December 20, 2023
The highly anticipated Notified Professional Fund (NPIF) was officially launched by The Malta Financial Services Authority (MFSA) on the 18th December 2023. This new framework is particularly suited for De Minimis AIFMs and third country AIFMs looking for alternative fund structures based in an EU country. The NPIF is not subject to a licensing process but rather a notification process which may be completed in 10 business days following the submission of a complete pack to the MFSA. Making it more cost effective for Managers and Fund Promoters to set up, this new category of Collective Investment Schemes, acknowledges past time-to-market pressures and limitations and enables an agile process from date-of-filing of a complete notification request, in comparison to other fully licenced funds.
The NPIF is particularly attractive to Managers based in the UK, Switzerland and Cayman amongst others, facilitating the same flexibility which offshore funds offer, with the benefit of retaining an EU-domiciled fund. This makes it easier for Fund Promoters to have the funds offered to EU Institutional investors who traditionally prefer to invest in an EU Investment Vehicle. The NPIF may also be used in a Master/Feeder structure, whereby the NPIF will feed into an offshore Master fund.
CC Fund Services (Malta) Ltd is part of the CC Finance Group and has been offering fund administration services for over 10 years. Our long-standing experience and proven acumen within the fund services sector, puts us in pole position to assist interested stakeholders to set up the NPIF, while also offering all the required services and expertise to ensure that the set up process is made as smoothly and efficiently as possible.