The genesis of the Malta Funds Industry Association (hereinafter "MFIA") go back to 22 September 2003 by two of its current members, HSBC Global Asset Management (Malta) Limited and Valletta Fund Management Limited. At that time, the MFIA was known as the Malta Investment Management Association and, initially, it represented the common interests of fund managers.
Following Malta's accession to the European Union on 1 May 2004, the industry witnessed an increased interest by international fund promoters to domicile their funds in Malta. This was without doubt driven by a number of success factors which amongst others, included the presence of a comprehensive legal and regulatory framework, cost competitiveness and a professional business environment. As a result of these developments, the Association broadened its remit to represent the interest of fund administrators, following the initiative taken by the main market players at that time to set up specialist fund administration operations and with a clear distinction from fund management business. The strong growth of the industry in these last few years subsequently necessitated that the Association reviews its statute to encompass a wider spectrum of practitioners actively involved in the funds industry
The MFIA's primary objective is to act as a channel of communication and to make representations to the Maltese Government and the Malta Financial Services Authority on legislative, regulatory and fiscal matters which amongst others, directly or indirectly, have an effect on the business and/or professional interests of its members.
MFIA is also represented on the Financial Services Consultative Council and on the Board of Governors of FinanceMalta, a Foundation which was set up between the Industry and the Government of Malta with the core remit to promote Malta's financial services industry in and outside Malta.
MFIA has been granted an Observor status by the European Fund and Asset Management Association (EFAMA).