Member spotlight: CC Fund Services

Providing an end-to-end service

The CC Group was set up over 50 years ago, and now services over 100 funds. Its subsidiary, CC Fund Services, was set up to offer an all-inclusive service from the set-up stage, regulatory reporting and subsequently assistance with the entire regulatory process until the attainment of the licence from the authorities, its managing director Stephen Gauci Baluci, explains.

Photo – Mr. Stephen Gauci Baluci, Managing Director, CC Fund Services (CCFS)

• For those who don’t know your company, can you provide some background? 

CC Fund Services (CCFS) is an independent fund administration company which offers a holistic service: it commences with consultation, to the set-up phase and assistance in the launch of the fund; net asset value calculation; transfer agency; registration; and related corporate services. CCFS forms part of the Calamatta Cuschieri Group which was established in 1972 and is today a leading FinYech Group based in Malta, which is responsible for over €2 billion of assets under management and administration.

• Can you share a little-known fact about your company? 

CCFS was initially set up in 2008 to provide administration and corporate services to the group’s proprietary UCITS fund platform, CC Fund SICAV which was launched in 2011. Over the years, the company branched out and provided its services to third-party managed funds and CCFS now employs over 40 professionals and administers over 100 funds with a broad range of fund structures covering all asset classes, due to the sterling reputation it garnered over the years.

• What are you currently working on and what are your company’s plans and strategic priorities for the coming years? 

We are always looking at ways to improve and strengthen our services and at the moment the company is currently working to further enhance and increase the automation of its fund accounting systems, transfer agency and AML functions. We believe that only by providing a consistent, efficient service, combined with the latest technology, can we deliver a customised package of services to our clients allowing them to focus on taking their businesses forward.

• Are there any projects/achievements of your company that you are exceptionally proud of? 

From inception our main objective for the company’s activities was to provide a personalised and tailor-made services for our clients. I am proud to see that we have now achieved that, as not only are we renowned for administering funds with the highest professional standard but we also provide other services in relation to the set-up of funds: anti-money laundering; regulatory reporting; MLRO; directorships; and compliance services. In fact, CCFS holds a Class C Company Service Provider licence issued by the Malta Financial Services Authority (MFSA).

• What in your opinion makes Malta an effective jurisdiction to set up a business? 

Malta has several attributes that make it an effective jurisdiction to do business, namely: a strategic geographical location; skilled and knowledgeable workforce; corporate tax benefits; strong corporate support services; and a high level of regulation, supervision and professional conduct. I also believe that there are other attributes which make Malta an appealing choice for businesses – such as the professionalism, enthusiasm and motivation shown by companies such as CCFS which definitely put us a cut above the rest.

• What kind of people/companies in the financial services community would you want to connect with? 

CCFS is always very enthusiastic to connect with people that are interested in setting up a fund in Malta or who wish to look into changing their current service provider in order to enhance their day-to-day fund operations and reporting. We can guarantee that engaging with CCFS will not only benefit the fund as a whole, but all its stakeholders and investors.

BIO

Stephen is the managing director of CC Fund Services. Prior to this role, he was the head of the CC Fund Services for six years. Today Stephen is a seasoned professional with a working experience of over 15 years in the funds industry, specialising in fund accounting and valuation, transfer agency, including anti-money laundering, compliance, regulatory financial reporting and corporate services. Prior to joining CC Fund Services, Stephen worked in the fund services division of a major local bank. He started his career working with one of the big four audit firms where he held a number of senior posts and was also posted overseas to lead multidisciplinary teams with the task of auditing hedge funds in New York and the Channel Islands. Stephen is a fellow of the Malta Institute of Accountants and also the chairman of the Malta Asset Servicing Association sub-committee.