Malta’s fund industry sees steady rise 02 November 2012Malta Reporter: Jenna Jones
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Malta Financial Services Authority (MFSA) statistics show that the number of funds that are domiciled in Malta has risen.
Over the first six months of 2012, the fund industry has registered a four percent increase in the number of funds authorised by the MFSA.
The MFSA has reported that in the first half of this year 65 new collective scheme licences have been issued, including 59 professional investor funds, five UCITS funds and one retail non-UCITS fund.
“A key aspect of the sector’s success is the country’s legislation for Professional Investor Funds (PIFs). In face, the net asset value of PIFs increased by almost 23 percent from €5.8 billion in December 2011 to €7.2 billion in June 2012. The number of PIFs likewise increased by almost four percent over the same period and stood at 460 at the end of June 2012. Registration of UCITS funds stood at €2.3 billion at the end of June 2012, €0.7 billion or 40 percent higher from end 2011,” said a statement from the Malta Financial Industry Association (MFIA).
Kenneth Farrugia, chairman of the MFIA, said: “These results are being driven by a number of key factors which include the high standards of regulatory oversight, the presence of an accessible regulatory body, the availability of highly qualified and multilingual human resources as well as the highly competitive set up and ongoing operational costs.”
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