According to the Malta Financial Services Authority (MFSA), from the end of 2010 till the end of 2011 the number of funds had increased by nearly 30%, with total assets up to almost 15%.
Companies from the British Virgin Islands, the Cayman Islands and Luxembourg were switching their legal domicile to Malta, whilst up to a dozen large UK hedge funds have shifted sections of their operations, such as accounting and investor relations to Malta. Whilst these larger UK hedge funds remain legally domiciled in other locations, if their assets were counted in Malta's official tally it would amount to nearly €80 billion.
Currently, the number of funds located in Malta has grown in excess of 700 companies, numbering 165 funds with €8 billion under management.
Further information is available from Malta Today.