PM welcomes proposal to give priority to the elderly on government stocks
The government will be mulling a proposal to give priority to the elderly when issuing government stocks, allowing them to invest in low-risk investment vehicles.
The proposal was put forward by Jesmond Mizzi, Director of Jesmond Mizzi Financial Advisors, during the official opening of the company’s new offices in Hamrun.
Mr Mizzi suggested that the elderly should be given precedence when government stocks are issued, allowing them to invest in a product with a good return without taking great risks.
Dr Muscat said the proposal was a valid one, which he would be discussing with Finance Minister Edward Scicluna. The proposal will have to be examined from a regulatory perspective.
The Prime Minister said the opening of the new offices was an important milestone for the financial services company, which has a history of almost two decades. “There are no better signs for a healthy economy than expansion and investment by the private sector.”
Financial services companies increased in 2014 and there was significant business in the banking sector, the Prime Minister said. During the past 20 months the financial services sector created 961 new jobs – double the amount of new jobs created in the preceding two years.
Mr Mizzi gave a brief overview of the company, which has continually evolved. Jesmond Mizzi Financial Services Ltd was established in 2002 and merged with Atlas Investment Services Ltd in 2010 to become Atlas JMFS Investment Services. In 2012, the company again re-branded into Jesmond Mizzi Financial Advisors Ltd. Mr Mizzi said the company will shortly be announcing new products with diversified local and foreign investments.
The company currently employs 21 people but is expected to create a number of new jobs.