European Fund Administration (EFA) has signed an agreement with Valletta Fund Management (VFM) giving access to EFA’s new TA platform.
As part of the agreement VFM has a secure and fully segregated remote access to a defined part of EFA’s TA platform, which they use to provide Retail Transfer Agency Services to an excess of 40 000 shareholders investing in their range of Malta domiciled funds.
VFM chose EFA after a thorough RFP process conducted over the December 2003-January 2004 period. The aim of VFM was to find a solution which would enable them to achieve two objectives: first, to rapidly replace their existing transfer agency tool with a new service offering capable of supporting their growing business; and second to gain the ability to add extra functionality supporting refined operational requirements and marketing needs in the future.
After VFM decided to work with EFA via a bureau service offering, the full implementation project was completed in a 6 month period. The project incorporated some customized developments for VFM, the migration of data for 42 000 shareholders, 42 funds and 106 distributors as well integration with VFM’s in-house systems to facilitate tax and reporting requirements.