News Details

Celebrating a decade of APS Funds SICAV p.l.c.

26/04/2018

APS Funds SICAV AGM 2017

 

On Wednesday 25th April, 2018, APS Funds SICAV p.l.c. held its 10th Annual General Meeting, celebrating a number of significant milestones for the company.

The Sub-Funds of the SICAV, which are managed by ReAPS Asset Management Limited, a wholly owned subsidiary of APS Bank, registered another year of positive performance, with the APS Income Fund and the APS Regular Income Ethical Fund returning 2.07% and 3.26% respectively.

Following the conversion to UCITS in the second quarter of 2017, a third fund, the APS Diversified Bond Fund, was launched in October. These developments contributed to an overall successful year, leading the total net asset value of the company to exceed the €150 million mark by the end of the year.

These results were achieved despite a challenging investment environment characterised by persistent low yields and stretched asset valuations. The global economic recovery continued to forge ahead, although geopolitical tensions in East Asia and elections in major European countries were among the most notable sources of risk faced by investors. Meanwhile, the Maltese economy was one of the star performers within Europe.

Amongst the ordinary business of the General Meeting, Dr Mario Felice, Mr Joseph Portelli, and Mr Etienne Borg Cardona were confirmed as Directors.

"Whilst being pleased with this year's results, we hope to maintain our momentum in the upward climb towards further success in the years to come," concluded Dr Felice.

Further information may be obtained at www.apsbank.com.mt/apsfunds.

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APS Bank Ltd is licensed to undertake the Business of Banking and to conduct Investment Services business by the Malta Financial Services Authority and is enrolled in Tied Insurance Intermediaries List under the Insurance Intermediaries Act 2006