The recent approval of Deutsche as a custodian in Malta will have a significant impact on the European ucits market. It means they can compete with Ireland and Luxembourg and become a key European ucits domicile.

It is likely that other brand name custodians will follow. This helps with added marketability for fund managers and is much lower risk than the current sub-custody relationships used by Bank of Valetta. There is now a good selection of quality fund administrators in Malta that are delivering fund administration services to ucits and sicavs in Malta.

PH