6533b7d6fe1ef96bd1267048

RESEARCH PRODUCT

Alternative Investment Fund Managers Directive and its Impact on Malta’s Financial Service Industry

Frank BezzinaInna RomanovaSimon GrimaFrank Chetcuti Dimech

subject

FinanceFund of fundsPrivate equity funds -- Law and legislation -- European Union countriesManagement feebusiness.industryManager of managers fundTarget date fundAccountingEuropean Parliament. Alternative investment fund managers directiveGeneral Business Management and AccountingHedge funds -- Law and legislation -- European Union countriesFund administrationSovereign wealth fundUmbrella fundbusinessGeneral Economics Econometrics and FinanceInvestment advisors -- Legal status laws etc. -- European Union countriesFinancial services industry -- MaltaInvestment fund

description

The introduction of the Directive on Alternative Investment Fund Managers (AIFM Directive 2011/61/EU) in 2013 means a radical transformation of the EU regulatory landscape for the whole alternative investment fund industry. Taking into account the growing meaning of the alternative investment fund industry in Europe, the aim of the paper is to assess the impact the Directive on Alternative Investment Fund Managers (AIFMD) will have on the Alternative Investment Fund Managers (AIFMs) managing Alternative Investment Funds (AIFs) in the EU. The research is based on the case of Malta, which is a quickly growing financial centre. The main findings are based on an analysis of questionnaire responses conducted with key players in the fund industry regulated and licensed by the Malta Financial Services Authority. This study provides an extensive analysis of the AIFMD and its impact on Malta’s financial service industry. It has highlighted various factors that will have a positive or negative impact on the industry resulting from the AIFMD. The paper provides recommendations for further development of the Maltese fund industry in the context of the AIFMD that can be partially applied to other fund domiciles.

yearjournalcountryeditionlanguage
2016-12-01International Journal of Economics and Business Administration
https://doi.org/10.35808/ijeba/93