Fund administration and fund accounting is the set of required activities for Collective Investment Schemes (CIS). A CIS has to appoint an approved Fund Administrator to carry out necessary activities once a Funds is registered and live. To support Fund Manager and Investors, the Fund Administration is responsible for an accurate up-keeping of the general ledger, monitoring the investment portfolio and the share register to ensure that an investment fund complies with all applicable statutory requirements, rendering such services as:

• Preparation of Net Asset Value on a regular basis
• Pricing the investment portfolio or sub-portfolios
• Fund accounting
• Reconciliations
• Preparation of contract notes
• Transfer agency
• Payment of bills
• Preparation of financial statements
• Performance reporting
• Compliance reporting
• Registrar

Registered Funds (UCITS, AIFs, PIFs), licenced and governed by the Investment Services Act (ISA), have to comply with statutory laws and maintaining accurate and up to date books. Every investment vehicle licensed under the ISA is to carry statutory financial statements followed by an Audit as indicated by the mentioned rules.  Such a statutory reporting must reflect the investment objectives of the investment fund as set out in the respective Offering Documents. The accounts should be carried out at least on an annual basis (PIFs, AIF) or bi-annually for UCITS Funds. A set of these report must be submitted both the MFSA and the Registry of Companies.

Furthermore, the CIS or the Administrator shall keep accounting and related records in its Malta registered office and made available to the MFSA should the need arises.  Records shall be retained for a minimum period of ten years.