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FundBPO opens office in Malta on back of regulatory approval

Friday, December 16, 2016
Opalesque Industry Update - Global fund administrator FundBPO has opened a new office on the island of Malta. The FundBPO office is headed by new hire Malcolm St John, Malta country manager, who has more than 15 years of fund services experience, most recently with Apex Fund Services and HSBC.

The office opening follows FundBPO’s receipt of a Recognition Certificate from the Malta Financial Services Authority to act as a Fund Administrator in Malta.

Malta is an emerging jurisdiction for the formation and administration of funds in the European Union, with a Net Asset Value of €10 billion in over 500 locally based funds.

FundBPO (Malta) Limited’s new office in Sliema will be responsible for the Group’s fund services in Europe.

“We believe Malta offers an excellent gateway for clients seeking investment solutions for European markets. At the same time our new office represents a significant opportunity to offer cross-border services and “follow-the-sun” workflow to our existing clients out of Malta.” Mr St John said.

The new office coincides with the Group’s recent acquisitions of Galileo Fund Services Limited on the Isle of Man and Fundadministration, Inc in New York, reflecting the Group’s commitment to servicing clients beyond Asia-Pacific. The Group now has offices in six countries: Australia, Hong Kong, Singapore, United States, the Isle of Man and Malta.

“We are encouraged by the level of interest in Malta as a domicile and processing centre for European funds. Clients are attracted to our unique offering as a listed global fund administrator with A$95 billion in funds under administration. Next we will explore ‘passporting’ our Malta fund administration licence to Luxembourg and Dublin to further our reach in Europe.” said Martin Smith, Chief Executive Officer of FundBPO.

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