Seventy five per cent of funds domiciled in Malta now source their fund administration services locally, Finance Minister Tonio Fenech said during the inauguration of Fexserv Financial Services Offices at Alpine House, San Gwann.

Mr Fenech said that over the past few years Malta witnessed a rapid growth in the number of funds domiciled in Malta, with an increase of 65 per cent in 2011, pushing the tally to over 700.

“This means that the financial services sector is not only an important pillar of investment but also a source of quality job generation. It is a testament to the quality that our human resources are able to offer,” Mr Fenech said.

Mr Fenech noted that Fexserv’s investment reflects the trust the company has in Malta’s economy, and such an investment will improve the quality of work of its 32 employees and the customers that make use of its services.

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