Heritage International Fund Services Malta Limited has been licensed by the Malta Financial Services Authority (MFSA) to provide depositary services compliant with the Alternative Investment Fund Managers Directive (AIFMD).
The launch of the depositary service, which follows the approval of a similar licence by the Financial Conduct Authority for Heritage’s UK business, puts Heritage Group’s Malta business on course for further growth. This specialist service includes the provision of asset verification, safekeeping, cash monitoring and oversight.
Commenting on the news about the new service, Mark Huntley, Head of Heritage Fund Services, noted:
“A considerable number of fund managers are required to comply with the new rules introduced by AIFMD and this will grow as new funds launch and the AIFMD rules evolve through to 2018. Heritage is seeking to be a forerunner in Malta by securing a depositary licence. This enables us to continue to expand our service offering into an area where we already have expertise. This expansion has also coincided with the move of our operations to state of the art offices in SmartCity.”
Heritage’s Malta business has recently changed its legal name to Heritage International Fund Services Malta Limited to reflect the growing breadth of the services offered to clients operating from Malta.