Mon, Oct 22, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Brexit Hedge: Fund managers need local substance to operate from Malta

Wednesday, December 06, 2017

Komfie Manalo, Opalesque Asia:

Fund managers from the UK who want to relocate or operate in Malta should have a local substance as required by the European Securities and Markets Authority (ESMA), said Monika Salomon, senior manager at Malta Financial Services Authority's (MFSA) Authorization Unit.

Participating at the recent Opalesque 2017 Malta Roundtable, Salomon explained that ESMA's Supervisory Convergence Network has made it explicitly clear how the companies moving out from London should structure their operation and governance, and the MFSA would be abiding by that.

"So in order to operate from Malta, fund managers need to have a local substance. As I said, we will be trying to avoid a situation of having a fund manager registered here in Malta and then the substance and the operation being somewhere else, be it the UK or any other jurisdiction. It is worth however to mention that we look at the proposed set up of an applicant and try to put it in perspective of practicality, so to not blindly follow numbers only," she said.

Green Day Advisors Founder David Butler, who has set up more than 65 managers in Malta in the last 11 years, added that many managers who want to establish in the region also want to be an AIFM-licensed manager. However, Malta requires that one of the two pillars of AIFM activity, risk management or port......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. BB&T Securities to bolster alternative investment offerings with CAIS platform[more]

    Laxman Pai, Opalesque Asia: The financial services firm BB&T Securities has selects the financial product marketplace CAIS to expand alternative investment access for advisors. A press release from the wholly owned subsidiary of BB&T Corporation said that with CAIS, it will gain access to pr

  2. Europe: Europeans up interest in unconstrained bond strategies, Generali steps up efforts to build multi-boutique business, Nordea bank in new Russia funds complaint, FCA proposes climate risk reporting duty for asset managers[more]

    Europeans up interest in unconstrained bond strategies Unconstrained bond assets are on the rise. Across both retail and institutional accounts, assets under management in these strategies rose from $153.2 billion in Q2 2013 to $289.7 billion in Q2 2018, for a five-year compound annual

  3. Stock slump aftermath: Hedge funds got caught long and wrong before stock slump, The huge 'blackout' that may be deepening market turbulence, Market veterans don't see the bottom yet: 'More selling is yet to come', Hedge funds hold up in rout as defensive stance finally pays off, Rally erupted in gold market days after funds made big bear bet[more]

    Hedge funds got caught long and wrong before stock slump From Bloomberg: In a moment of bad market timing, hedge funds had increased their bullish bets on U.S. stocks to the highest since February, and second-highest in five years, just before last week's sell-off. Speculative net

  4. Robert Citrone's discovery cashes in on bearish bets[more]

    From Institutional Investor: The macro hedge fund is riding strong gains since mid-year thanks to savvy wagers against Italian fixed income and other instruments. Macro hedge funds are finally getting a reprieve, between the bond market selloff and overall financial market volatility - two even

  5. Hedge funds at the 'core' of stock slump may be done offloading, Why hedge funds will stick with ever-risky short volatility trades[more]

    Hedge funds at the 'core' of stock slump may be done offloading From Bloomberg: One quantum of solace for bruised stock bulls: Some of the usual suspects behind last week's rout may be done frightening markets. Equity long-short hedge funds are among the worst-performing categori