Malta Financial Services Sector Reports Strong Growth
by Lorys Charalambous, Lowtax.net, Cyprus
08 July, 2014
The Malta Financial Services Authority has reported that 2013 has been another successful year for the financial services industry, with strong growth in the number of registered funds and retirement schemes.
The number of retirement pension schemes increased 88 percent from the previous year, and the number of new licensed UCITS funds (Undertakings for Collective Investment in Transferable Securities) doubled during the same period.
There was double-digit growth for the fund management sector, with the issuance of 125 investment service licences – an increase of almost 11 percent from the previous year. There were 188 non-Malta domiciled funds (including sub-funds) administered by Malta-based fund administration companies at the end of 2013, an increase of 31 percent from the previous year.
During the period, the MFSA licensed 135 new Collective Investment Schemes (including sub-funds), a slight increase over the previous year.
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