Isle of Man based Fund Administration and Fiduciary Services group open a new office in Malta. 29, September 2010 (Douglas, Isle of Man) - - Abacus is pleased to announce the establishment of Abacus Fund Administration Limited at its new European office in Malta, having gained full Fund Administration Recognition Certificate status from the Malta Financial Services Authority. The Malta office is focused on providing Abacus with a platform to develop its business across global markets. Abacus is now able to provide a full suite of fund administration services to fund managers seeking to launch funds in both onshore and offshore domiciles. Malta offers a range of schemes to cater for a wide range of fund types and sizes, alongside the core EU traditional type UCITS fund structures and the increasingly popular alternative type UCITS structures (more commonly referred to as NewCITS) which can be distributed throughout the EU under a single stamp of EU-wide regulatory approval. Managing Director of the Abacus funds group, Paul Kneen said, ““The Malta office is an integral part of our growth strategy, having offices in the Isle of Man and Malta will allow Abacus to provide a full range of fund administration solutions, from hedge funds to UCITS compliant structures. Malta is widely tipped to be the new hotspot for EU fund domicile, supported by its growing reputation as a viable alternative to the more established EU fund jurisdictions of Dublin and Luxembourg.” Abacus is pleased to announce the appointment of Mark de Marco as Regional General Manager at Abacus Fund Administration Limited. Mark is a fellow of the Maltese Institute of Chartered Accountants and has over 30 years experience in financial management including fund administration, corporate secretarial administration and financial accounting services. Commenting on his appointment, Mr de Marco said,”I am delighted to have been given the opportunity to head the Maltese operation for Abacus. Abacus is a vibrant and dynamic company and the establishment of the Malta office opens a unique and exciting chapter for the growth of Abacus’ fund services in the EU. I look forward to working with the fund administration team in the Isle of Man to develop and enhance the current service offering. Malta offers a wide number of benefits to both funds and their management companies; one of Malta’s two official languages is English, it is ideally located as an European domicile, has low cost set-up for new company and fund vehicles and is supported by a proactive regulator in the Malta Financial Services Authority. Malta also hosts an advanced telecommunications network and operates an extensive double tax-treaty network, underling its position as a stable jurisdiction from which to conduct international business.” Abacus is currently one of the Isle of Man’s leading fund administration and corporate services providers, embracing more than 30 years experience through its group companies, offering a wide range of financial and fiduciary services to a global client base. - ENDS -