As part of its initiatives to promote Malta as an ideal and fast-growing jurisdiction for the setting up of investment funds and related fund services, VFS, in conjunction with Bank of Valletta’s Milan Representative Office, recently organised a seminar in Milan. The seminar was addressed by a panel of speakers representing the major players in the financial sectors in Malta and Italy.

Charles Borg, chief officer Financial Markets and Investments at Bank of Valletta spoke about the Group’s operations in the financial services scenario and about the banking group’s contribution to Malta’s economic growth.

Andrew Chetcuti Ganado, Legal Advisor at BOV’s Trustee Services Unit highlighted the concept of Trusts and spoke about the legal infrastructure in Malta being an ideal jurisdiction where to set-up trusts.

The legal and regulatory framework for the setting up of UCITS III schemes in Malta was addressed by Dr Andre Zerafa, a lawyer at Ganado and Associates.

Joseph Camilleri, head of VFS Business Development Unit spoke about the competitive advantage Malta offers to fund promoters for the setting up of Professional Investor Funds, ideal investment vehicles for structuring of hedge funds, real estate funds, private equity funds and others. The support services VFS provides to the growing number of fund promoters, ranging from turnkey solutions to fund administration was also highlighted.

The highlight of the event was presented by Cristiano Carraroli, head Risk Management at GDP SIM SpA, an Italian financial institution. Dott. Carraroli spoke about his Company’s positive experience in Malta, the general pro-business environment in the industry, ranging from the approachability of the Regulator, to the professionalism and level of efficiency of Valletta Fund Services and various other service providers based in Malta.

The seminar came to a close with a debate between the floor and the various speakers, which was chaired by Ivan Gaffiero, manager of Bank of Valletta’s Milan Representative Office.

As to the organisation of this event, Kenneth Farrugia, General Manager of Valletta Fund Services said, “This event further consolidates the Company’s international business initiatives aimed at promoting Malta as a fast growing European fund domicile.

“We firmly believe that Malta is set to experience unprecedented growth driven by a value proposition underpinned by the presence of a prompt and efficient regulatory framework, a cost competitive environment, and the availability of highly qualified human capital. Within this context, Valletta Fund Services will continue to play a leading role in the development of the industry.”