Article by Frank Chetcuti Dimech and Frank Caruana
Frank Chetcuti Dimech and Frank Caruana of CDF Advocates
explain the investment regime in Malta, a jurisdiction where
registered funds are on the increase.
Malta established a specific regime to deal with the
authorisation of collective investment schemes and fund managers in
the Investment Services Act (ISA) of 1994. The ISA paved the way
for the establishment of retail funds and local fund managers. In
2000 the Malta Financial Services Authority (MFSA) launched
specific rules for non-retail funds labelled professional investor
funds (PIF) with the intention of establishing Malta as a European
hedge fund domicile.
The number of funds registered in Malta has increased steadily
over the past few years. Malta implemented the Undertakings for
Collective Investment in Transferable Securities (Ucits) III regime
immediately upon accession to the European Union on May 1 2004, so
both Ucits and non- Ucits funds may be
