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New innovative solution for Asset Managers – The Notified PIF launched!

By December 18, 2023January 2nd, 2024No Comments

Following a consultation period, the Malta Financial Services Authority (MFSA) has just launched the Notified Professional Investor Fund (NPIF) framework aimed at providing a new solution for funds below the AIFMD threshold.

Following a due diligence process by an appointed service provider which can be the Fund Administrator itself, NPIFs will submit a notification to the MFSA, and will be added to the list of Notified PIFs in just 10 days. This innovative framework promises reduced time to market and operational expenses, providing a cost-effective alternative to fully licensed funds.

Here is what you need to know about this new framework:

  • The NPIF can be managed by third-country managers or EU de-minimis managers enabling them to manage a European fund without appointing a full-scope AIFM adding additional costs;
  • It does not require the appointment of a Depository provided that adequate safekeeping measures are in place enabling promoters to continue working with their chosen service providers in their jurisdiction of choice;
  • Will only be available for Qualifying Investors having a net worth of EUR750,000 and investing a minimum of EUR100,000;
  • The initial and ongoing due diligence can be carried out by an approved service provider which can be the Fund Administrator itself. The chosen service provider is to provide a yearly confirmation to the Authority;
  • The NPIF Board of Directors is to include a local resident;
  • The NPIF is not required to appoint a Compliance Officer

How Fexserv Can Help:

Fexserv Fund Services Limited is here to guide you through the fund setup process in Malta. Our highly skilled team is ready to assist you every step of the way, ensuring a smooth and successful process from start to finish. At Fexserv we also provide various roles required for this fund structure including the initial and ongoing due diligence, provision of MLRO role and Company Secretary role, and ongoing administration services tailored to your needs.

Should you have any inquiries or wish to explore the potential of the Notified PIF, don’t hesitate to reach out to us on queries@fexservfunds.com