The statement shows the total cost and charges incurred in relation to every investment portfolio held with Bank of Valletta p.l.c. Therefore, if you hold more than one portfolio, you will receive a statement for every portfolio held, on an annual basis. The statement is issued as per portfolio designation, therefore, if the portfolio is held jointly, only one statement is issued in respect of the joint portfolio. The statement is issued for securities held in the Bank’s name, as nominee, on your behalf and also in respect of securities held directly in your name. In the latter case the accuracy of the statement relies on the information provided by you.