PIF or Notified PIF?
A Professional Investor Fund (PIF) follows a standard licensing process with the Malta Financial Services Authority. Typically the process adheres to rigorous scrutiny and a timeline of approximately six to eight months for it to go to market. A Notified PIF (NPIF) follows a notification procedure with a duration of 10 working days from submission to launch. It has lower set up costs to that of a PIF.
The Malta Financial Services Authority published an article on the 18th of December 2023 to inform the industry about the framework being launched regarding the Notified PIF. The establishment of this new framework requires amendments to the existing fund’s rulebooks.
The announcement made by the MFSA introducing a new fund structure in Malta, enhances the Maltese financial landscape comes as a result of thoughtful consideration and feedback received during two public consultations. This being a result of the MFSA’s continuous work to introduce additional ways to market for smaller and or emerging managers. Introduction of the NPIF provides a lighter regulatory regime available to de minimis managers under the EUs AIFM directive.
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