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Ta’xbiex, Malta – 19 January 2006 has issued comments on changes being proposed to guidelines effecting Professional Investment Funds (PIFs) set up under Malta’s financial legislation. These amendments are being drafted in order to enhance the existing framework and ensure continued development in this area.

One of the changes which has already become effective concerns the relaxation of the criteria governing leverage for Professional Investor Funds (PIFs) aimed at Experienced Investors. Commenting on the newly introduced changes, Kenneth Dimech, an Executive Director of , stated that the company is closely following these changes in order to ensure that Fund Logistics keeps its clients abreast with the new opportunities arising in this sector.

Explaining the importance of the newly introduced amendment, Mr Dimech said that Fund Promoters can now operate a larger fund without the need to increase the number of participating Experienced Investors. Professional Investor Funds for Experienced Investors are aimed at private investors, companies, insurance companies and other institutional investors willing to participate with a minimum investment of US$20,000.

The relaxation of the leverage criteria for Experienced Investors participating in PIFs means that a smaller number of investors can have the benefit of returns on more funds than they actually own.

Malta is quickly developing into an international fund jurisdiction and the Maltese financial sector is going through a period of steady growth in the hedge fund sector. It is well regulated and, combined with its well-prepared and professional workforce is highly service-oriented. In only two years, Malta has issued over 195 new licences to fund schemes. These schemes are set up as investment companies with variable share capital in terms of the local relevant provisions of the Companies Act. too is well-prepared and properly acquainted with the fund regulations which allow hedge funds to be serviced by overseas fund services providers, including Prime Brokers, Administrators, Custodians and Investment Managers. is Malta based fund registration and administration service provider for start-up hedge, managed futures, private equity and forex funds.

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Charmaine Xerri
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