CCFunds SICAV launches new CC Euro High Income Fund GBP share class
Calamatta Cuschieri has announced the launch of a GBP share class under the CC Euro High Income Fund, a sub-fund which forms part of the CC Funds Sicav plc., incorporated as an open-ended collective investment scheme, registered in Malta and qualifying as a Maltese UCITS in terms of the UCITS Directive. The Sicav is composed of a variety of strategies across the asset spectrum, amongst which includes the CC Euro High Income Fund. The new share class is set to give local investors who are holders of the sterling currency the opportunity to participate in an actively managed fund that invests in high yield bonds.
Traditionally, sterling holders had limited investment options, which typically consisted of investing solely in UK companies via bonds or funds. Through this new share class offering, investors can now enjoy geographical diversification as the strategy dictates exposure to other regions and sectors, while they can still hold on to their sterling currency. Moreover, the new CC Euro High Income Fund GBP share class will distribute income every six months, while it gives the opportunity for potential capital growth.
Jordan Portelli, Chief Investment Officer said: “The newly launched GBP share class offers investors the opportunity to reduce concentrated geographical risk, as the strategy is well diverse through its global exposure. Moreover, through its bottom-up approach, the Manager seeks to uncover value, thus giving investors the opportunity to benefit from higher returns, generated from sectors and regions which offer a premium when compared to their U.K. peers.”
The CC Euro High Income Bond Fund aims to maximise the total level of return for investors through investment in a diversified portfolio of bonds. To achieve this objective, the Investment Manager invests primarily in a diversified portfolio of over 65 intermediate term, corporate bonds with maturities of 10 years and less.
Despite not mandatory, under the new GBP share class, the Investment Managers will seek to hedge the GBP share class in order to mitigate any EUR/GBP currency pair risk.
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CCFunds SICAV was launched in September 2011, and today has an aggregate Assets Under Management of over €140m spread over 7 distinct sub-funds.
Calamatta Cuschieri Investment Services is one of the largest local Investment services companies and a founding member of the Malta Stock Exchange, the company offers a wide range of services including Financial Planning, Online Trading, Life Insurance, Pensions, and Capital Markets Advisory Services. It is licensed to provide investment services by the Malta Financial Services Authority.