Fund Services

Fund administration and fund accounting are required activities for Collective Investment Schemes (CIS). A CIS has to appoint an approved Fund Administrator to carry out necessary activities once a Fund is registered and live. To support the Fund Manager and Investors, the Fund Administration is responsible for an accurate up-keeping of the general ledger, monitoring the investment portfolio and the share register to ensure that an investment fund complies with all applicable statutory requirements, rendering such services as:

• Preparation of Net Asset Value regularly
• Pricing the investment portfolio or sub-portfolios
• Fund accounting
• Reconciliations
• Preparation of contract notes
• Transfer agency
• Payment of bills
• Preparation of financial statements
• Performance reporting
• Compliance reporting
• Registrar

Registered Funds (UCITS, AIFs, PIFs), licensed and governed by the Investment Services Act (ISA), must comply with statutory laws and maintain accurate and up-to-date books. Every investment vehicle licensed under the ISA must carry statutory financial statements followed by an Audit as indicated by the mentioned rules.  Such statutory reporting must reflect the investment objectives of the investment fund as set out in the respective Offering Documents. The accounts should be carried out annually (PIFs, AIF) or bi-annually for UCITS Funds. A set of these reports must be submitted to both the MFSA and the Registry of Companies.

Furthermore, the CIS or the Administrator shall keep accounting and related records in its Malta-registered office and make them available to the MFSA if needed.  Records shall be retained for a minimum period of ten years.