On Thursday 9th March 2017, Valletta Fund Services Ltd officially changed its name to BOV Fund Services Ltd. The rebranding consolidates the relevance of BOV Fund Services as an integral service offering of the Bank of Valletta Group.
Since it was incorporated as a limited liability company, taking over the fund administration services from Valletta Fund Management Limited in 2006, BOV Fund Services has grown into the leading fund administration company in Malta. Speaking about the change in name, Kenneth Farrugia, Chief Business Development Officer (Investments) at Bank of Valletta confirmed that, “The change in name strengthens the Bank of Valletta brand, whilst reinforcing the fact that Fund Administration is core to the suite of services offered by the Bank. Our strong value proposition for asset management clients goes beyond the provision of just fund administration services. As Malta’s leading banking group, we may provide our clients with an array of complimentary services to include, global custody, international brokerage, foreign exchange and asset hedging services as well as general banking services. In this manner, Bank of Valletta is uniquely positioned to provide asset management clients with a one stop shop holistic service.”
BOV Fund Services provides fund managers and fund promoters with a comprehensive range of fund administration services including Fund Accounting, Fund Valuations and Shareholder Registry Services.
Joseph M Camilleri, Chief Officer at BOV Fund Services spoke about the various milestones that contributed to make the organisation the fund administrator it has become today. “Today, BOV Fund Services has EUR3.4 billion worth of total assists under administration, making up just under 35% of the market for Malta domiciled funds. This is the result of constant efforts by the dynamic team, and ongoing investments to grow responsibly whist consolidating our brand.” He spoke about the cross-section of services offered both locally and overseas, which include Turnkey Fund Formation, Company Secretarial Services, Provision of Registered Office, Portfolio Risk Reporting, Compliance Reporting, Prevention of Money Laundering Reporting, MLRO services, the production of Fund Fact Sheets and KIIDS as well as regulatory reporting.
Looking ahead, he expressed his confidence that BOV Fund Services will continue to grow in a sustainable manner. “BOV Fund Services is well placed to make the most of the opportunities resulting from the developments in Malta’s fund industry that make it an ideal alternative fund domicile, attracting business not only locally but mainly from overseas. As a result, over the past years, the team has garnered invaluable experience in supporting companies in setting up and re-domiciling various types of fund structures, as well as on-going servicing of all their administration needs.” he concluded.
BOV Fund Services is a recognised fund administrator by the Malta Financial Services Authority and licensed to provide corporate services under the Company Services Providers Act, 2013.