Digital Assets Report

Latest News

The Securities and Exchange Commission (SEC) has charged hedge fund manager Leon G Cooperman and his firm Omega Advisors with insider trading based on material non-public information he learned in confidence from a corporate executive. The SEC alleges that Cooperman generated substantial illicit profits by purchasing securities in Atlas Pipeline Partners (APL) in advance of the sale of its natural gas processing facility in Elk City, Oklahoma.   Cooperman allegedly used his status as one of APL’s largest shareholders to gain access to the executive and obtain confidential details about the sale of this substantial company asset.    Cooperman and
Lower recent performance, high-profile redemptions and increased concern from investors on the issue of fees have influenced many hedge fund managers to bring their management and performance charges below the “2 and 20” industry standard. That’s according to the latest research from Preqin which reveals that just 35 per cent of hedge funds tracked by the company currently charge both a 2 per cent management fee and a 20 per cent performance fee, and average fees have fallen over recent years.   In 2016, the mean management fee is 1.57 per cent, while the mean performance fee is 19.29 per
The Maltese Notified Alternative Investment Fund (NAIF) fills a gap in Europe's fund market. According to Dr Stefania Grech, Financial Services Associate, Chetcuti Cauchi Advocates, an unregulated fund was the one product missing in the Maltese Fund Industry. "Now, from a European perspective, there is no discrimination when it comes to the creation of an unregulated vehicle, offshore versus onshore. "The NAIF regime could create an opportunity for investment managers to set up an onshore European structure to market to European investors. This could be done pari passu to the offshore fund, creating the possibility for fund managers to have
Malta has been quite innovative in providing certain infrastructure for the securitisation cell company (SCC) and securitisation in general. According to the MFSA, 30 securitisation vehicles have launched so far this year, and Sparkasse Bank Malta, plc. has been a beneficiary of this phenomenon. As Paul Mifsud, Managing Director at Sparkasse Bank confirms: "We are seeing a good level of uptake in this area and the bank is well positioned to add value to this structure by being able to give the debt security within a segregated cell a degree of transferability and mobility by having it dematerialised and held
On 10 June 2016, Malta burnished its reputation when the Malta Financial Services Authority (MFSA) launched the Notified Alternative Investment Fund (NAIF) regime through the publication of the Investment Services Act (List of Notified AIFs) Regulations in the Malta Government Gazette. This sets the scene for fund promoters to launch AIFs through Malta by means of a light touch notification process without having to go through a full licensing process with the MFSA. Rather, the NAIF may be launched by full-scope AIFMs authorised by the MFSA under the Investment Services Act, who will shoulder the responsibility of oversight and compliance. 
Circle Partners (Circle) is an independent fund administrator with offices across the EU, the Americas and Hong Kong. Circle has the ability to set up sub-funds on its Luxembourg SICAV and guide start-up managers through the whole process of bringing a new fund to market in all major fund jurisdictions.  By extension, Circle has a large network of local counterparties based in Malta and as Peter Jakubicka (pictured), Business Development Manager at Circle explains: "We can offer a `one-stop shop' solution from the set-up phase through to launch including brokers, custodians, auditors; basically all of the functions that are required
Whether it’s providing AIFM management company solutions, depositary lite solutions, or simply providing start-up managers with a high-touch level of service, Malta’s service provider community continues to evolve with the times.  The attractions of Malta's Notified AIF regime have been well documented in this report and whilst it presents a unique opportunity for authorised AIFMs, the regime will not necessarily be applicable to start-up and emerging managers.  These are very much the lifeblood of Malta. Catering to this market segment has helped to differentiate the island from other, more established fund jurisdictions. So whilst the NAIF regime is an important
Dr Louis de Gabriele, head of Camilleri Preziosi Advocates’s Corporate and Finance practice group, outlines the benefits of Malta’s Notified AIF (NAIF) regime… "In my view, the main benefits are twofold," says Dr Louis de Gabriele, head of the Corporate and Finance practice group at Camilleri Preziosi Advocates, when discussing the newly introduced Notified AIF (NAIF) regime.  "Firstly, the NAIF regime will significantly condense time to market for these types of funds. Indeed, the MFSA has committed itself to list funds on the `Notified AIF List' within ten business days from the submission of a complete notification pack, which will
Apex Fund Services has been operating in Malta since 2008 and has seen, first hand, how quickly the island has evolved into one of Europe's leading onshore fund jurisdictions.  Following the chaos of the financial crash, start-up managers chose Malta because it represented a cost effective option. This worked to Apex's advantage but as Paulianne Nwoko, Managing Director of Apex Fund Services (Malta), points out: "Over the years, Malta has evolved into an established financial jurisdiction with a deep pool of professionals spanning all aspects of the funds industry; law firms, audit firms, fund administrators, and, to a lesser extent,
Professor Joseph Bannister (pictured) of the Malta Financial Services Authority explains how the island is positioning itself as a leading European securitisation market… How do you assess the opportunity to build out Malta as one of Europe’s leading securitisation markets, given that outside of Luxembourg you are the only EU jurisdiction to have securitisation legislation in place? Malta provides a legal framework for securitisation vehicles, primarily through the Securitisation Act which has been in place since 2006, and more recently, the Securitisation Cell Companies Regulations, introduced in 2014.  This legal framework has enabled Malta to develop into a jurisdiction of

Special Reports

FeatureD

down graph

Events

16 May, 2024 – 8:30 am

Directory Listings