This special edition includes studies by the University of Malta, MSc Banking and Finance graduates and the respective lecturers, on financial services within particular countries or regions and studies of themes such as credit risk management, fund management and evaluation, forex hedging using derivatives and sovereign fixed income portfolios.

Active versus Passive Investing: An Empirical Study on The US and European Mutual Funds and ETFs - Desmond Pace, Jana Hili and Simon Grima FX Hedging Using Forwards and ‘Premium-Free’ Options - John Mark Caruana Director Trading in Malta: An Analysis of Returns - Yanica Caruana Equity Mutual Fund Performance Evaluation: An Emerging Market Perspective - Jana Hili, Desmond Pace and Simon Grima Recent Annual Report Weaknesses by a Supreme Audit Institution: An Analysis - Peter J. Baldacchino, Daniel Pule, Norbert Tabone and Justine Agius Analysis of Risk Parity Approach for Sovereign Fixed-Income Portfolios in Eurozone Countries - Noel Cassar and Simon Grima The Evolution of the Retail Payment Market – A Focus on Malta - Sharon Marya Cilia Tortell

Editors Grima and Bezzina present readers with a collection of academic essays and scholarly articles examining a variety of issues in contemporary financial management and investing. The contributions that make up the main body of the text are devoted to active and passive investing, mutual funds and ETFS, FX hedging using forwards and premium-free options, director trading in Malta, and many other related subjects. Simon Grima and Frank Bezzina are faculty members of the University of Malta.