W&F Issue 2 2018

www.wealthandfinance-news.com 30 Wealth & Finance International - Issue 2 2018 Forming a part of the larger Bank of Valletta Group, BOV Fund Services over the past 10 years has branched off from its sister company, BOV Asset Management, whilst remaining a fully owned subsidiary of Bank of Valletta, to provide added value in terms of services offered. Today, the company offers no less than 18 services around its core business, with new services continuously being launched to better meet client needs and expectations. Peripheral services around the core Fund Administration business include, but are not limited to: Turnkey Fund formation services, Re-Domiciliation of Offshore Funds, Company Secretarial Services, Anti-Money Laundering and Money Laundering Reporting Officer Services, FATCA and Common Reporting Standard reporting and other services of an operational and regulatory nature. The core business at BOV Fund Services is generated predominantly from continental Europe and the United Kingdom. The company services different types of funds ranging from UCITS funds in the retail space down to Hedge Funds, Private Equity, Distressed Debt Funds, Arbitrage Funds and Real- Estate Funds in the alternative space. Within the hedge fund space, the firm offers a variety of services, specialising in offering clients tailored and individual services. Cost and pricing is a delicate issue for Hedge Fund Managers looking to set up a new fund in Malta. BOV Fund Services helps clients or potential clients in the Hedge Fund space to evaluate all structuring options offered by the local regulator as well as EU regulation, and accordingly propose a competitive fee proposal moulded around the most suitable structure and fund features for clients. Marking itself out as the best possible option for clients, BOV differentiates itself from its competitors by offering affordable services which has led to a The Complete and Effective Fund Administration Partner As one of the largest Fund Administrators in Malta, BOV Fund Services has established itself amongst the market leaders in the Fund Administration space. We profile the firm as we explore the outstanding success that the company has achieved. 1802WF20 range of new clients. Whilst monitoring competition is important, the company does not rely on the reputation of its parent company, as Malta’s leading Bank, to differentiate itself. Rather, BOV Fund Services strives to maintain its status as market leader in the Fund Administration sector by remaining price competitive and continuing to attract new business opportunities. 2017 has seen BOV Fund Services beat the previous year’s record by taking on 32 new funds, taking the total funds under administration above 120 funds. The current year looks set to beat that record given the very healthy pipeline business, so remaining focused on maintaining a quality of service that best meets client expectations keeps the company optimistic of securing a positive reputation. Crucially, it is important that the firm adapt constantly the new developments and advances which are arising throughout the hedge fund sector. With a workforce of no less than 50 employees, spread across four departments, BOV Fund Services maintains daily communication with the local regulator as part of its day to day operations in providing client services. As the Maltese Fund Industry continues to grow, keeping up to date with new regulations and/or amendments is a daily obligation. In this aspect, the company is always alert and ready to be one of the first to adopt, adapt and implement such changes, given the resources and operational framework available. Ultimately, BOV Fund Services will look to capitalise on its ongoing success and explore new opportunities and avenues which have opened up thanks to its achievements. As Malta’s Fund Industry continues to grow, BOV Fund Services remains optimistic of continuing to generate new business opportunities, as well as sustaining and building upon existing client relationships. As part of the company’s continuous business development ambitions, Business Development Initiatives in Non-EU jurisdictions are amongst future projects discussed to drive the company forward. Investments in IT platforms and automation remains a constant on BOV Fund Services’ agenda, thereby ensuring latest technologies and practices are maintained. Contact: Victoria Inguanez Address: TG Complex, Suite 2, Level 3, Triq il-Birrerija, l-Imriehel, Birkirkara, BKR 3000, Malta Phone: (356) 2275 3243 Website: www.bovfundservices.com