CCFunds

CCFunds Sicav plc is a Maltese investment company that offers retail and institutional investors a family of funds under one umbrella. A SICAV is a type of open-ended investment company, and each fund within it is a separate sub-fund with its own strategy. The company was launched in September 2011, has more than €160m of assets under management and is registered at the Ewropa Business Centre on Triq Dun Karm in Birkirkara.

This page explains what the funds are, how they are sold and how to reach the advisers behind them. Nothing here is investment advice, and investment decisions should rest on the prospectus and key information document. The firm appears in our directory of financial advisors in Malta, and our overview of financial services in Malta gives the wider picture.

Regulation and structure

CCFunds is licensed as a collective investment scheme by the Malta Financial Services Authority under the Investment Services Act, and it qualifies as a Maltese UCITS. UCITS is the European framework for funds that can be sold to the public across borders, which is described as the gold standard for funds. All of the sub-funds are UCITS funds authorised by the MFSA.

The funds are managed on a daily basis by a dedicated team of investment professionals at Calamatta Cuschieri Investment Management Limited, which holds its own MFSA licence. They are distributed through Calamatta Cuschieri Investment Services, a sister company that is also regulated by the MFSA, and the wider group was established in 1972. The board is chaired by Charles J. Farrugia, a non-executive director since 2011 who spent 35 years in banking, including senior roles at HSBC Malta. The other directors are Alex Cuschieri, a founder of Calamatta Cuschieri, Alan Cuschieri and Nick Calamatta, who are co-chief executives of the group.

For a UK reader, the key point is that UCITS funds follow a common European rulebook and the sub-funds here are authorised by the MFSA. It is worth asking an adviser how a Maltese fund would sit alongside your existing investments, what the currency and tax position would be, and whether a fund is suitable for your goals and time horizon. The website's own legal notice repeats that investors should read the prospectus and key information document first, and that the figures quoted on the site come from the investment manager.

The range of funds

The range spans several asset classes. Bond funds include the High Income Bond Fund, the Malta High Income Fund and the Malta Government Bond Fund. The Global Opportunities Fund is the equity option. Mixed asset funds include the Global Balanced Income Fund, the Income Strategy Fund, the Balanced Strategy Fund and the Growth Strategy Fund, plus the Solid Future Defensive and Solid Future Dynamic funds, which date from October 2011. Most funds are denominated in euros, and investors can choose between euro and US dollar options.

Several funds come in two forms. Distributor classes pay dividends twice a year and suit people who want regular income, while accumulator classes reinvest dividends automatically, which suits people building up capital. Investors can switch between the two at any time at no cost. Institutional and sterling-denominated share classes exist for some funds, such as the High Income Bond Fund.

The website includes a short guide that asks whether you are looking for growth, income or balance, which currency you prefer and whether you want to accumulate or receive interest, and then points to the funds that might fit. It is a reference tool, not advice, and an adviser should be consulted for an assessment based on your own circumstances. Past performance figures are published for each fund, but they refer to the past, the value of investments can go down as well as up and the funds are not capital guaranteed.

In simple terms, a bond fund lends money to governments or companies in return for interest, an equity fund buys shares in companies, and a mixed fund combines the two in proportions set by its strategy. The strategy funds are named growth, balanced and income to show where each sits on the spectrum, and the Malta Government Bond Fund and Malta High Income Fund focus on the domestic market. Each fund has its own key information document, offering supplement and prospectus, and the website links to them from each fund page.

Costs, minimums and income

The minimum investment is €2,500 or $3,000, and smaller regular amounts, from as little as €40, can be put aside through a savings plan. The initial entry fee is up to 2%, with discounted entry fees during certain offer periods, and there is a flat €10 fee on redemption. Ask an adviser for the details that apply on the day you invest.

Interest from income funds can be paid into your account with the distributor, into your own bank account or by cheque, and you can collect a cheque from an office. Investors receive a portfolio valuation and statement every 12 months, and can ask for extra statements. The online platform, CCTrader, lets clients follow their account in real time at no extra cost, and it is also the route for confident investors who decide for themselves and do not need advice. Anyone who is unsure should talk to an adviser first.

The investment approach is kept simple: research each instrument and country first hand, avoid over-trading, choose good instruments and hold them.

Sterling investors should note that the funds invest in euro and US dollar, so exchange rates can matter when you convert your money, and the advisers can explain how that works in practice.

International investors and people moving to Malta

Non-Maltese residents can invest too, as the distributor also serves international clients. If you are relocating, our UK guide to relocating to Malta and guide to Malta tax for UK nationals cover the practicalities of living and investing on the island. For company and relocation support from a separate adviser, see CLA Malta, our featured partner.

The Valletta office is on the 5th floor of Valletta Buildings, South Street, so it can be combined with a walk through the capital, and our guide to the Knights of Malta explains the history around you.

Offices and visiting

The registered address is the Ewropa Business Centre on Triq Dun Karm in Birkirkara. The funds are distributed through representative offices in Birkirkara, on the 5th floor of Valletta Buildings on South Street in Valletta, at 116A Tower Road in Sliema, 252 Hompesch Road in Fgura, the Warner Complex on Victory Street in Qormi and Sunscope Court on Triq il-Fortizza in Mosta.

Opening hours differ by office and by page, but weekday opening generally starts at 08:30, and some offices open on Saturdays or by appointment. Advisers can arrange visits outside those times if you call ahead, and they can also see clients at home around Malta and Gozo. All of the offices are wheelchair accessible. Walk-in visits do not need a booking, although calling first helps if you want a particular adviser.

If you are staying in the Sliema area, see our guide to hotels in Sliema and St Julian's, and for the capital, our Valletta guide and introduction to Malta will help you plan your trip.

Getting in touch

Tell us whether you are an existing client or a new one, which currency you would like to invest in and whether you want growth, income or a balance. Use the VisitMalta.co.uk enquiry form on this page and we will pass your message to CCFunds, who will reply to you directly.