The financial services sector continued to expand at a steady rate in spite of the turmoil in the sector during the summer months. Licences issued by the MFSA recently included three fund administrators.
A number of collective investment schemes have also been issued during this period. On the UCITS side, the Celsius Global Funds SICAV plc continued to expand with the licensing of a new sub-fund, Barclays AFB Long/Short Allocator Fund. Licences have also been issued to professional investor funds targeting qualifying investors namely additional licences issued to Altma Funds SICAV plc, NBCG Funds SICAV plc and Novium Opportunity Umbrella SICAV plc. A new licence has also been issued to Golden Hedge Umbrella SICAV plc.
Malta's fund servicing capabilities also continued building up over the past few weeks. A category 2 investment services licence has been issued to Liongate Capital Management Limited. Fund administration recognition certificates have also been issued to SGGG Fexco Fund Services (Malta) Limited and Custom House Global Fund Services Limited. Custom House Group of Companies is also authorised as a Category 4 Licence holder, to act as a custodian for Funds of Funds in Malta.
Nick Mahy, Managing Director of Praxis Fund Services (Malta) Ltd, confirms Malta has all the ingredients of a quality fund services centre.
"It's been a very positive experience to date. Malta is strong in professional services when it comes to law, accounting and IT, and we are very pleased with the quality and number of applications we got for the jobs we advertised.
"Everything has gone very well really," he said, pointing out that Praxis got its recognition from the MFSA in July and was up and running with five employees by the beginning of October.
A number of collective investment schemes have also been issued during this period. On the UCITS side, the Celsius Global Funds SICAV plc continued to expand with the licensing of a new sub-fund, Barclays AFB Long/Short Allocator Fund. Licences have also been issued to professional investor funds targeting qualifying investors namely additional licences issued to Altma Funds SICAV plc, NBCG Funds SICAV plc and Novium Opportunity Umbrella SICAV plc. A new licence has also been issued to Golden Hedge Umbrella SICAV plc.
Malta's fund servicing capabilities also continued building up over the past few weeks. A category 2 investment services licence has been issued to Liongate Capital Management Limited. Fund administration recognition certificates have also been issued to SGGG Fexco Fund Services (Malta) Limited and Custom House Global Fund Services Limited. Custom House Group of Companies is also authorised as a Category 4 Licence holder, to act as a custodian for Funds of Funds in Malta.
Nick Mahy, Managing Director of Praxis Fund Services (Malta) Ltd, confirms Malta has all the ingredients of a quality fund services centre.
"It's been a very positive experience to date. Malta is strong in professional services when it comes to law, accounting and IT, and we are very pleased with the quality and number of applications we got for the jobs we advertised.
"Everything has gone very well really," he said, pointing out that Praxis got its recognition from the MFSA in July and was up and running with five employees by the beginning of October.