Industry Update /
Bank of Valletta

BOV Asset Management named official representative of Fidelity International in Malta

November 25, 2022

BOV Asset Management announced that it is now the official representative of Fidelity International in Malta. This was announced by the CEO of the BOV Group, Mr Kenneth Farrugia during an event organized for all financial intermediaries of BOV Asset Management held on Friday 25th November 2022. The conference was also addressed by Mr Giordano Lafrate, Sales Manager at Fidelity International and Mr Simon Azzopardi, Chief Wealth Management Officer at Bank of Valletta plc.Upon welcoming the participants, Kenneth Farrugia said, “It gives us great pleasure to be with you today to mark this important milestone.” We are privileged to announce the appointment of BOV Asset Management as the representative of Fidelity Investments International. Speaking about the commercial partnership with Fidelity International, Mr Farrugia said that this will enable the Bank and appointed intermediaries of BOV Asset Management to provide customers with a broader range of investment products. The choice of products will also include a number of sustainable investment funds, meeting the ESG ambitions of the Bank to provide investors with access to sustainable investment products.In his address, Kenneth expressed his confidence that BOV Asset Management will develop the relationship established with Fidelity International to launch innovative investment solutions on the market to meet the changing investment requirements of its customers with a particular focus on pension products. This proposition supports the Bank’s ambition to be the Bank of Choice for its customers, be they personal or corporate. The range of Fidelity products will be available through the Bank’s Private Banking division and Investments Centres in Malta and Gozo which are positioned as centers of investment expertise supporting the investment needs of the Bank’s customers.During the event, participants were also addressed by Mr Giordano Lafrate. He gave an overview of Fidelity, which boasts over 50 years’ experience and has over EUR600 billion in total assets under management. Present in 25 countries worldwide, Fidelity International’s customer base to date stands at 2.7 million. “We are really glad to launch this partnership with BOV Asset Management. Clients will benefit from the 50+ years investment experience of Fidelity International and its proprietary research platform, with gathers the best ideas of 450+ investment professionals,” he said.In his intervention, Mr Simon Azzopardi stated that, “BOV Asset Management has developed an excellent working relationship with Fidelity over the years. This is being cemented today with the formal representation of Fidelity in Malta. He explained that while the Vilhena Funds and BOVAM Investment Funds will remain an important part of the Group’s offering, the partnership with Fidelity will ensure that wealth management clients have an extensive selection of investment solutions backed by a top international asset manager. This alliance will also add further breath to BOV’s Investment Strategy and Research Team enhancing asset allocation and portfolio performance.” As a result of the agreement reached with Fidelity International, Bank of Valletta will be strengthening its offering to assist clients in building better futures for themselves and their loved ones.”Corroborating on Mr Azzopardi’s comments, Mr Mark Agius, Head BOV Asset Management, highlighted that since it was set up, BOV Asset Management has continued to make significant investment in the professional training and development of its people and systems. “Today, we have surpassed the EUR1 billion mark in assets under management,” he said. BOV Asset Management manages several ‘life cycle’ investment funds as well as investment management for Personal Retirement schemes, Occupational Retirement schemes and Retirement funds.