FinanceMalta, the public-private partnership established to promote Malta’s financial services sector, is actively building on recent success in attracting hedge fund managers to the islands as a result of growth in the jurisdiction and is set to network with its peers at this year’s EuroHedge Summit at the Palais de la Bourse in Paris.
Interest in Malta for funds is riding high this year after Bloomberg featured the islands extensively, with leading Bloomberg journalist Jeremy Kahn endorsing the high-quality regulatory environment and Mediterranean lifestyle: “As of early November, the number of funds located in Malta had grown to more than 500 with $10.7 billion under management from 165 funds with less than €5 billion under management in 2006”.
Bloomberg were not alone in their assessment of Malta’s progress as a European financial centre with a December 2011 report from Digital Publisher of the Year Hedge Funds Review, which said: “The Malta hedge fund industry continues to expand as low costs and accessible regulator tempt managers”.
FinanceMalta’s Head of Business Development Bruno L’ecuyer puts attendance at the EuroHedge Summit in perspective. “Investors are impressed by the growth of the islands’ fund sector. They see Malta as a complementary EU jurisdiction to the traditional domiciles of Luxembourg and Ireland, where costs are lower and the regulatory environment is able to support innovative strategies and solutions. It is therefore vital that we are present at key European events to answer questions about the domicile.”
Held in Paris every spring, the EuroHedge Summit is a major hedge fund event. It attracts the industry’s elite from around the globe, providing FinanceMalta and the local industry with the opportunity to position Malta’s jurisdiction as the jurisdiction of choice for hedge funds and hedge fund managers. Amongst those attending the event with FinanceMalta are Camilleri Preziosi Advocates, Praxis Fund Services and Valletta Fund Services.
The event offers incisive and topical content about hedge fund strategies and addresses the overall outlook for the hedge fund industry and financial markets. Speakers and panellists include a number of high-quality managers and investors, including Kyle Bass Hayman, principal of Capital Management; Andre Esteves, CEO of BTG Pactual; Guillaume Rambourg, founder and CIO of Verrazzano Capital; Andrew Baker, CEO of AIMA, the trade association representing the global hedge fund industry; Gavyn Davies, chairman of Fulcrum Asset Management and co-founder of Prisma Capital Partners, and Heath Davies, managing director of Signet Capital Management Ltd.
Having won international respect for the excellence of its financial services industry and establishing itself as one of the safest and best run financial centres in Europe, Malta’s legal and regulatory framework now holds major appeal for funds. FinanceMalta members will be highlighting the key benefits Malta offers to international investors, such as a strong and diversified economy, a motivated, trained and highly-skilled workforce, a top class ICT infrastructure, market access, stable social and political environments and a balanced financial regulatory regime.
Malta is clearly establishing itself as an attractive, dynamic, cost-efficient and English-speaking jurisdiction in the EU. The latest statistics released by the National Statistics Office show Malta has had substantial growth in this growing part of the financial services sector, which helps contribute over €1 billion of revenue to the economy and accounts for almost 15 per cent of GDP as one of the key pillars of the Maltese economy along with tourism, manufacturing and business services.
For further information about the EuroHedge Summit, or to apply to join the delegation, visit www.financemalta.org