Australian fund administrator MainstreamBPO is continuing its global expansion with a move into Europe through principle regulatory approval in Malta.
As part of its European expansion, the group has also opened serviced offices in London and Dublin and has appointed Colin Stott to be responsible for business development in the region.
The fund administrator’s operations from Malta will focus on administering UCITS (Undertakings for Collective Investment in Transferable Securities) and SICAVs (Société d’Investissement À Capital Variable) funds.
Malta is widely regarded as a key domicile of alternative investment funds in the EU with a net asset value of around €10 billion in over 500 local funds.
The news marks the second development from MainstreamBPO following its move into the United States in July with the opening of an office in New York.
Prior to its expansion into the US, MainstreamBPO’s operations in Australia, Hong Kong and Singapore served 420 funds with assets exceeding $84 billion.
“Europe and the UK are crucial for our ambition of attracting new hedge fund clients, while many of our existing clients in Asia and Australia are increasingly active in the region,” said MainstreamBPO chairman and managing director Byram Johnston.
“With an administration centre in Malta we will be able to service UCITS and SICAV funds for our clients at the same level as Ireland or Luxembourg.”