Leap of Faith: Launching the First Maltese Unit Trust

The Maltese funds industry is has just seen the launch of its first collective investment scheme structured as a unit trust. In this paper, the author examines some of the legal and regulatory challenges which the launch of this structures gave rise to, such as the question of the role of the custodian. The author suggests a number of changes to the regime which are necessary if the structure is to become more widely used and highlights some of the advantages of the unit trust as a vehicle for funds.