Finance Malta, the public-private initiative set up to promote Malta's international financial centre, heralded a new era in web-based events last week when it organised the first-ever interactive web debate for an audience of fund managers across the world.

The event, held at the Malta Stock Exchange using the exchange's fibre optic connectivity, was made possible by teaming up with International Fund Investments, the specialist publishing house which provides comment, news and analysis on European alternative and mainstream asset management industries.

The debate focused on whether fund managers should be domiciling their funds in Malta, fund servicing issues in Malta, and the procedures to set up funds in this location.

Fund managers where able to e-mail questions to the expert panel that included Dermot Butler, chairman of Custom House Administration and Corporate Services, Joseph Camilleri, a partner at Pricewaterhouse-coopers, Randall Hobbs, chief financial officer of Liongate Capital Management, and Andre Zerafa, a partner at Ganado and Associates law firm.

Finance Malta chairman Kenneth Farrugia said more than 50 international fund managers and other service providers were able to hear the expert speakers' contributions.

"Apart from being a cost-effective branding and media solution, interactive webcasts allow us to promote Malta to geographically dispersed financial institutions and provide real-time access to professionals who are unable to physically attend events organised by Finance Malta," Mr Farrugia added.

The event will be followed by other sector-driven webcasts.