Mer­ill Si­cav launch a High In­come and a Global Eq­uity In­come Fund

The Malta Business Weekly - - FRONT PAGE -

Fol­low­ing the suc­cess­ful launch of the Mer­ill SI­CAV and its first sub­fund, the Mer­ill To­tal Re­turn In­come Fund which has now reached €22.4 mil­lion in as­sets un­der man­age­ment, the com­pany is about to in­tro­duce two new sub­funds – the Mer­ill High In­come Fund and the Mer­ill Global Eq­uity In­come Fund.

The Mer­ill Si­cav is in­cor­po­rated as an open-ended col­lec­tive in­vest­ment scheme, reg­is­tered in Malta, qual­i­fy­ing as a Mal­tese UCITS in terms of the UCITS Di­rec­tive, and li­cenced by the Malta Fi­nan­cial Ser­vices Au­thor­ity. The new funds will also be self-man­aged by a team of pro­fes­sion­als at Jes­mond Mizzi Fi­nan­cial Ad­vi­sors Ltd.

The Mer­ill High In­come Fund aims to pro­vide a high over­all yield with the po­ten­tial for cap­i­tal growth. The fund may in­vest all its as­sets in rated and un­rated fixed in­come se­cu­ri­ties lo­cated any­where in the world and may in­vest up to 60 per cent of the as­sets in units of col­lec­tive in­vest­ment schemes and ex­change traded funds. The High In­come Fund may in­vest to a lim­ited ex­tent in eq­ui­ties, and prod­ucts which qual­ify as trans­fer­able se­cu­ri­ties, but which are pack­aged around a num­ber of un­der­ly­ing se­cu­ri­ties from which they de­rive their value. The fund may in­vest in emerg­ing mar­kets although it will fo­cus on de­vel­oped mar­kets.

On the other hand, the main aim of the Mer­ill Global Eq­uity In­come Fund is to achieve cap­i­tal growth and in­come from a di­ver­si­fied port­fo­lio of in­vest­ments. The sub-fund will in­vest pri­mar­ily in eq­uity of com­pa­nies spread across the globe and up to 60 per cent of the as­sets un­der man­age­ment could be in­vested in units of col­lec­tive in­vest­ment schemes and ex­change traded funds.

The Fund Man­ager has ab­so­lute dis­cre­tion to de­cide the in­vest­ment type, ge­o­graph­i­cal area, eco­nomic sec­tor or is­suer of in­vest­ments, sub­ject to ap­pli­ca­ble re­stric­tions. The fund may also in­vest, to a lim­ited ex­tent, in bonds and prod­ucts which qual­ify as trans­fer­able se­cu­ri­ties. These are pack­aged around a num­ber of un­der­ly­ing se­cu­ri­ties, from which they de­rive their value. The Fund will dis­trib­ute any in­come gen­er­ated from the port­fo­lio on a quar­terly ba­sis, how­ever it is im­por­tant to keep in mind that this is sub­ject to the dis­cre­tion of the di­rec­tors, who will de­cide whether to dis­trib­ute such in­come or part of it. Any undis­tributed in­come will be rein­vested back into the fund.

Both funds will be priced and will trade daily and are suit­able as a medium to long term in­vest­ment. In­come will be paid on a quar­terly ba­sis. In­vestors can opt for a min­i­mum lump sum in­vest­ment of €2,500 or as a reg­u­lar sav­ings plan.

Jes­mond Mizzi, a di­rec­tor of Mer­ill Si­cav, stated that “the funds are aimed at those in­vestors who want to spread their in­vest­ments in a di­ver­si­fied port­fo­lio of var­i­ous un­der­ly­ing as­sets in­clud­ing global high yield, in­vest­ment grade bonds, in­ter­na­tional and lo­cal shares. Mr Mizzi also em­pha­sised that it is im­por­tant for in­vestors to ap­pre­ci­ate that these two new funds in­cor­po­rate a full range of in­vest­ment prod­ucts which al­low the funds to earn in­come from al­ter­na­tive sources of in­vest­ments which is passed on to the in­vestors on a quar­terly ba­sis. Now more than ever in­vestors need to di­ver­sify into dif­fer­ent as­set classes to gen­er­ate in­come but also to pro­tect and en­hance their cap­i­tal.”

As an in­tro­duc­tory of­fer, all in­vestors may ben­e­fit from sub­stan­tially re­duced ini­tial fees to pur­chase these two new Mer­ill Funds. These ini­tial fees are dis­counted to 1.25 per cent for all ap­pli­ca­tions re­ceived un­til March 15, 2017.

In­vestors should keep in mind that the value of the funds and the in­come are not guar­an­teed and may fall as well as rise. Past per­for­mance is no guide to fu­ture per­for­mance.

In­vest­ments should be based on the de­tails con­tained in the Prospec­tus and Key In­vestor In­for­ma­tion Doc­u­ments which can be ob­tained free of charge from Jes­mond Mizzi Fi­nan­cial Ad­vi­sors Lim­ited of 67, Level 3, South Street Val­letta, VLT 1105 or their other of­fices in Ham­run, Birkirkara or ta’ Xbiex. The com­pany and the SI­CAV are li­censed by the Malta Fi­nan­cial Ser­vices Au­thor­ity.

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