Apex Fund Services Malta, Sliema

Malta, Sliema

Anthony O' Driscoll,
Managing Director
Email: anthony@apexfunds.com.mt
Tel: +356 21311330

Apex Fund Services (Malta) Ltd.,
6th Floor, Airways House,
Gaiety Lane,
Sliema SLM 1549,Malta.

The time in Sliema, Malta is

Malta is open for AIFMD business

On 25 June, 2013 the Malta Financial Services Authority (MFSA) issued the final implementating measures for Malta’s transposition of the Alternative Investment Fund Managers Directive (2011/61/EU) (AIFMD).

Below are a few highlights of the final implementing measures:

Full use of AIFMD transitional periods by Malta

Malta is availing itself of the following transitional periods under AIFMD:

  • The full 1 year transitional period until 22 July, 2014 for existing fund managers / self-managed funds to upgrade their licence into full AIFMs / self-managed AIFs or de minimis AIFMs.
  • Non-EU fund managers may continue to manage / market without a passport non-EU AIFs / EU AIFs without requiring full AIFMD compliance until 2015.
  • Malta based AIFMs and AIFs are allowed to engage both local depositaries as well as a depositary that is a credit institution in another EU Member State. This derogation will last until 22 July, 2017.

Retention of Malta Professional Investor Fund Regime

Malta’s successful Professional Investor Fund regime (Experienced, Qualifying and Extraordinary) has been retained and refined and will continue to be available not only to de minimis fund managers and non-EU AIFMs but also to EU AIFMs. Where an EU AIFM is to manage a Maltese PIF then the AIFM would need to structure the PIF accordingly in order to achieve AIFMD compliance. PIFs managed by EU AIFMs that are in conformity with AIFMD will be allowed to passport.

Retention of current regime for fund managers for de minimis AIFMs

The popular local regime for fund managers has been retained largely unchanged and will be available to de minimis fund managers.

Launch of new Malta Alternative Investment Fund Regime alongside PIF Regime

Alongside the Maltese Professional Investor Fund regime, a new AIF regime has been launched. The Alternative Investor Fund allows AIFMs (or promoters wishing to set-up a self-managed AIF) a plug-and-play solution to achieving AIFMD compliance with a fund regime that also bears the “AIF” brand.

No look-through as regards AIFMD remuneration policies for sub-managers

The MFSA has announced that although it has implemented ESMA’s guidelines on remuneration policies, it has decided not to transpose ESMA’s guideline that AIFMs should be required to impose equivalent remuneration policies and restrictions on its sub-managers and other delegates.

Apex AIFMD Solutions:

  • Apex Fund Services to act as external Valuer for agreed Level II assets.
  • Apex Fund Services to assist AIFMs with their reporting obligations.
  • Apex Fund services to assist::
                   
  • Middle and back office activity outsourcing solutions
  • Trade Management and portfolio recordkeeping
  • Performance analytics

 

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