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New Managers April 2014

SERVICERS' SPOT:Views from service providers on approaching AIFMD implementation

 

Smaller hedge funds must ready for AIFMD shock Ian Hamilton

Hedge fund startups could come to Malta where it is cheaper to set up, the heads of IDS Group and Scotstone Investments suggested during a recent Opalesque TV interview with Matthias Knab, and all small funds have to get ready for the upcoming implementation of the EU's AIFM Directive ā€“ either through merging or partnering with the right company. A lot more buck for your money in Malta

Malta has the same infrastructure as its European domicile counterparts Dublin or Luxembourg, but "one of the biggest advantages (of Malta) is the absolute approachability of the Malta Financial Services Authority," says Ian Hamilton during the interview. "They are very keen to work with foreign companies coming into the country."

Since its accession to the European Union in 2004, Malta has issued 400 investment services licenses. The Mediterranean island was also awarded 'Most favoured domicile in Europe' in Hedge Fund Service Provider rankings 2013 by Hedge Funds Review.

Funds looking to domicile in a European jurisdiction will find that in Malta, they can get a lot more value for their money for the services, Hamilton continues. "The legal services are excellent, the law that is used in the financial services here is English law so it's pretty understandable. It's well practiced here, your regulations are the same as what you will have in the other jurisdictions. But it's a lot easier with the infrastructure to actually get set up."

It is easier but it is also cheaper than in Luxembourg or Dublin to set up, so administrators are able to accept more small funds, he adds. "The other two jurisdictions are reaching up points where they become very fussy as to what f......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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