Citco has received approval to provide fund administration and custody from the Malta Financial Services Authority.
The firm has simultaneously opened an office in the Mediterranean nation.
William Keunen, global director of Citco Fund Services, says the extension of Citcos global footprint in Malta offers an alternative domicile to Europe for hedge funds.
Now, with the implementation of the AIFM directive in July 2013, Malta will provide a viable alternative to the main European hedge fund jurisdictions, in particular because the legislation is ready and the MFSA is engaged and proactive, Keunen says.
Citco Fund Services (Malta) Ltd and Citco Custody Ltd will provide a comprehensive asset-servicing offering for funds domiciled both in and outside Malta.
(CG)