Issue link: https://maltatoday.uberflip.com/i/964110
maltatoday WEDNESDAY 11 APRIL 2018 12 Business Today Market Summary as at 10/04/2018 Equity Official List Session State ................................................................... Market Closed Number of trades ........................................................... 94 Volume Traded ................................................................. 848,929 Value of € denominated securities .................................... 1,039,315.70 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denomi nated securities .............................. 0.00 Current Index ................................................................... - Previous Index ................................................................. - Change in Index (%) ......................................................... - Bank of Valletta plc ........................ 1.750 0.00% Mapfre Middlesea plc .................... 2.100 0.00% FIMBank plc .................................. 0.535 0.00% MIDI plc ........................................ 0.350 0.00% GlobalCapital plc ........................... 0.300 0.00% Plaza Centres plc ........................... 1.020 0.00% GO plc ........................................... 3.580 0.00% RS2 Software plc............................ 1.430 0.00% Grand Harbour Marina plc ............. 0.750 0.00% Simonds Farsons Cisk plc ............... 6.850 0.00% HSBC Bank Malta plc ..................... 1.680 0.60% Tigné Mall plc ................................ 0.950 0.00% International Hotel Investments plc 0.580 0.00% Pefaco International plc ................. 2.240 0.00% Lombard Bank Malta plc ................ 2.360 0.00% Santumas Shareholdings plc ......... 1.500 0.00% Malita Investments plc ................... 0.840 0.00% Malta Properties Company plc ........ 0.462 0.00% Malta International Airport plc ....... 4.900 0.00% PG plc ........................................... 1.300 0.78% MaltaPost plc ................................. 1.850 0.00% Trident Estates plc ......................... 1.900 0.00% Medserv plc .................................. 1.140 0.00% MSE Index Regular market closed –10/04/2018 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change l BOV 62,461 109,311.75 19 1.760 1.750 1.760 1.750 0.000 s HSB 19,776 33,269.52 13 1.700 1.670 1.700 1.680 0.010 l MIA 4,236 20,616.40 3 4.900 4.860 4.860 4.900 0.000 t PG 30,000 39,000.00 1 1.300 1.300 1.300 1.300 -0.010 t G19A 233 254.18 1 109.090 109.090 109.090 109.090 -0.040 t G20B 25,000 27,332.50 1 109.330 109.330 109.330 109.330 -0.170 t G21A 28,523 33,132.32 3 116.160 116.160 116.160 116.160 -0.040 t G22B 50,000 58,485.00 1 116.970 116.970 116.970 116.970 -0.030 t G28A 50,000 67,360.00 1 134.720 134.720 134.720 134.720 -0.280 t G28B 50,000 65,996.30 2 132.050 131.980 132.050 131.980 -0.070 s G29B 125,000 137,025.00 2 109.940 109.540 109.940 109.540 0.080 s G30A 7,800 11,102.52 1 142.340 142.340 142.340 142.340 0.040 t G31A 2,000 2,859.40 1 142.970 142.970 142.970 142.970 -0.030 t G33A 15,000 19,921.50 1 132.810 132.810 132.810 132.810 -0.010 t G34A 79,500 103,962.15 1 130.770 130.770 130.770 130.770 -0.590 s G39A 18,100 18,301.25 3 101.250 101.000 101.000 101.250 0.250 s G40A 30,600 35,918.46 4 117.390 117.370 117.370 117.390 0.110 l 1923A 4,200 4,431.00 1 105.500 105.500 105.500 105.500 0.000 l BV30A 50,000 50,500.00 2 101.000 101.000 101.000 101.000 0.000 s CF26A 12,000 12,600.00 2 105.000 105.000 105.000 105.000 0.910 s GC21A 20,000 19,913.00 3 99.730 99.400 99.400 99.730 0.330 l GP23A 21,000 21,840.00 5 104.000 104.000 104.000 104.000 0.000 t HM24A 5,000 5,262.50 2 105.250 105.250 105.250 105.250 -3.650 l IH25A 600 652.80 1 108.800 108.800 108.800 108.800 0.000 t IH26A 3,200 3,318.40 1 103.700 103.700 103.700 103.700 -0.300 t IH26B 3,500 3,587.50 1 102.500 102.500 102.500 102.500 -0.500 l MD26A 11,000 11,506.00 1 104.600 104.600 104.600 104.600 0.000 s MI22A 7,400 7,696.00 1 104.000 104.000 104.000 104.000 1.900 t MS23A 2,700 2,862.00 1 106.000 106.000 106.000 106.000 -1.500 s SD27A 3,100 3,216.25 1 103.750 103.750 103.750 103.750 0.750 s SF27A 2,000 2,082.00 1 104.100 104.100 104.100 104.100 0.030 l ST27A 10,000 10,400.00 1 104.000 104.000 104.000 104.000 0.000 l VH24A 75,000 75,000.00 8 100.000 100.000 100.000 100.000 0.000 l VR27A 20,000 20,600.00 4 103.000 103.000 103.000 103.000 0.000 Strong investor demand for Merill SICAV plc Funds In less than two years, assets managed by Merill SICAV plc have surpassed the €60m mark as at the end of Janu- ary 2018. This was stated by Jesmond Mizzi, Chairman of Merill SICAV plc at the annual general meeting (AGM) of the company which was held last month, in which all resolutions before shareholders were ap- proved. The fund management company manages three fund strategies, the first one of which was launched in 2016. The more recent two funds were launched during the second quarter of last year and bring to the market two highly diversified strategies aimed at generating income and growth. All three funds are managed by Jesmond Mizzi Financial Advisors Ltd (JMFA), the local investment services firm that is celebrating its 15th year in business. Following the AGM Mizzi addressed investors' of the SICAV and stated that through investment funds investors can easily diversify the various risks inherent when holding direct investments. Over the years the company directors set up strong relationships with international fund houses. Moreover, a robust internal analysis process helped the fund manager identify the best investment funds on a risk-adjusted basis. The experience which the directors gained throughout the years in managing clients' portfolios has led the company to bring to market strategies which are built with investors in mind and based on the company's local expertise and the aforementioned internal investment funds' analysis. All three Merill funds offer both distributor and accumulator share classes. Given local investors' preference for income, the distributor share classes pay interest income on a quarterly basis. Those investors who are not after income or wish to reinvest income in the same funds can opt for the accumulator share classes. In addition investors can access these investment strategies both through lump sum investments and regular monthly contributions. The Merill Total Return Income Fund was launched in 2016 and the fund aims to generate both income and capital growth over the long term. Mizzi stated that the fund kicked off with seed capital of €14m injected by Atlas Holdings and has now reached the €30m mark. This strategy provides investors with exposure to investment grade bonds, local corporate bonds and equities. The fund does not target a high level of income, but given its mix of assets, the strategy strives to generate a positive return in all market conditions. Merill Funds SICAV strongly believes that this fund should be a core holding in investors' portfolios in order to add asset class diversification and downside protection when markets turn negative. In 2017 Merill SICAV launched two new funds, one of which was the Merill High Income Fund the primary objective of which is to generate income. Capital growth is a secondary objective which can be achieved if investors remain invested for the long term. The fund is highly invested in bonds and bond related investments given its income generation objective. In fact as at end of February 2018 over 75% of the assets managed by the fund were invested in direct bonds and third party bond funds. A total of 15% can be invested in equities. Mizzi stated that the demand for this sub-fund was huge and the assets under management have reached €24.4m by the end of January 2018. The Merill Global Equity Income Fund which was launched together with the Merill High Income Fund aims to generate capital growth and income to a lesser extent. The fund invests in a diversified portfolio of local and global equities yet some bond exposure is also allowed. The Merill Global Equity Income Fund reaches its objective through investments in direct shares and equity- linked investment funds. Mizzi concluded by stating that all three funds have different investment objectives and asset class exposure. During different stages of the economic cycle, different asset classes behave differently and should not be expected to move up and down in tandem. As a result diversification is key. Merill Funds SICAV is a strong believer of asset class diversification and believes that investors should diversify their portfolios across different asset classes in order to reduce default and concentration risks while at the same time have a diversified portfolio which can better protect value during different market periods. All three funds achieve a high level of diversification through investments in direct issuers and third party collective investment schemes. Diversification does not guarantee the value of the capital but it reduces significantly certain risks associated with investing. Acquisition of Corinthia Palace Hotel International Hotel Invest- ments p.l.c. (IHI) is pleased to announce that it has com- pleted the acquisition of the 150-room Corinthia Pal- ace Hotel located at Attard, Malta. The Corinthia Palace Hotel first started operat- ing in 1968 when the brand Corinthia was launched. The Corinthia Palace Hotel is undergoing an extensive refurbishment of all guestrooms, back of house areas and a complete transformation of the spa and gym facility. The hotel is currently celebrating its fiftieth anniversary later this year. IHI operates Corinthia Hotels and other unbranded hotels worldwide under the Corinthia Brand, through Corinthia Hotels Limited. The Company is also a developer and project manager through its wholly owned subsidiaries, Corinthia Developments International Limited and QPM Limited. It also owns commercial and residential real estate internationally, and, separately, is the foremost events and industrial catering company in Malta.