Interview with Gatis Eglitis – For integrated brokerage and fund platform firm, EXANTE, setting up in Malta last year was certainly a case of ‘New Kid on the Block’. Historically, the island has always been a nation of savers. The investment industry has necessarily developed to reflect this fact, where the general sentiment is one of long-term investing with low risk appetite. When you consider that EXANTE prides itself on having cutting edge technology, a co-location infrastructure, and what is, to all intents and purposes, a highly sophisticated trading infrastructure well suited to high frequency traders, their establishment on the

By Roger Buckley (pictured) – As an emerging funds jurisdiction Malta is in a strong and perhaps enviable position to mould its future as a domicile and fund administration centre with enhanced corporate governance standards. Together with compliance and risk management, decent corporate governance is a crucial pillar of fundamental importance in the investment funds industry. Moreover, shortcomings in corporate governance have been a main contributor to the majority of the recent high profile international fund scandals. The appointment of independent non-executive directors and an independent administrator strengthens and improves governance, which is of paramount importance to the integrity of

By Dominique Lecocq (pictured) & Dr Caroline Pace, partner and senior associate, respectively, Lecocqassociate – In order to get a regulatory license, an asset management company must guarantee a fit and proper organisation. Most recognised jurisdictions have set similar standards, including (i) a level of independence between shareholders and board members; (ii) a level of ‘chinese wall’ between operations, risk management and compliance; (iii) dual control and four eyes principles; (iv) good monitoring of conflict of interests. The Malta Financial Service Authority (‘MFSA’) controls the issuing of licenses and supervising asset managers and advisors operating in or from Malta. While

Interview with Ximo Vicent – Mediterranean Bank is a relatively new banking institution. Now, having focused on building out its infrastructure to meet its own business needs, the bank is looking to leverage this to support smaller funds domiciled in Malta. As a local custodian, the bank is well placed to service funds that will be required to register with the AIFM Directive, and despite catering mainly to savers, Med Bank is already carving out a niche in capital markets. As Ximo Vicent (pictured), Head of Credit & Investments, confirms: “Our infrastructure is able to support both retail and institutional

By Simon Gray – As though a mediocre investment climate and a difficult environment for fundraising weren’t enough to deal with, the alternative fund industry in Europe is now facing up to the home straight of implementation of the European Union’s Alternative Investment Fund Managers Directive, which is due to take effect as of July 22 next year. But while many professionals may see the legislation as a threat, or at best a distraction for urgent investment and operational issues, Malta and its fund service providers tend to see it more as an opportunity. No-one can yet be absolutely sure

By Laragh Cassar (pictured), Partner, Camilleri Preziosi – Collective Investment Schemes (CIS) offer various benefits and enable participants to pool in their investments under the principle of risk spreading. Furthermore, CIS enable the individual investor to benefit from investment opportunities which are generally not viable or available to them, due to cost, regulatory and licensing restrictions.   The number of CIS licensed in Malta has grown significantly over the past decade and, due to various factors (including a favourable fiscal regime), is continuing to increase at a steady rate. CIS generally take the form of investment companies with variable share

By Kenneth Farrugia (pictured) – Malta’s fund industry is increasingly making the headlines in the financial media, which have highlighted the island’s attractiveness as a domicile. Journalists and finance analysts progressively see Malta as a complementary EU jurisdiction to traditional fund domiciles, where regulatory environment supports innovative strategies and solutions. According to the country’s financial regulator, the Malta Financial Services Authority (MFSA), the number of Maltese-based funds has grown from around 130 in 2004 to more than 550 at the beginning of this year, with EUR8.3bn in assets under management. Much of this growth has taken place since the island