Cyprus Business Now

The total assets of investment funds increased by 11 per cent in June 2021 from March 2021, according to data released Tuesday by the Central Bank of Cyprus. Total assets of the investment funds increased to €7.3 million in June 2021 from €6.6 million in March 2021, the CBC said. The number of investment funds in June rose to 224 from 222 last March. The Cyprus Investment Funds Association currently has €9.8 billion in funds under management. the highest historical level to date, recording a significant quarterly increase of 14 per cent. “During 2020 and the COVID-19 pandemic, the Investment Fund sector was tested in Cyprus, as well as internationally, and proved to be very resilient. We were optimistic that with the gradual normalization of the situation the sector’s growth rate would intensify and we are pleased that these forecasts are confirmed,” says CIFA President Andreas Yiasemides. Out of the 166 UCIs with activities, 123 invest in Cyprus, partially or wholly, with their domestic investments amounting to €2.2 billion (22.8 per cent of total Assets under Management).

The Harmonized Consumer Price Index recorded an annual increase of 2.7 per cent on an annual basis, according to data released by the Statistical Service on Wednesday. Specifically, according to a press release posted on the website of the Statistical Service, the Harmonized Index of Consumer Prices in July 2021 increased by 2.7 per cent compared with July 2020, while compared with the previous month, it increased by 0.2 per cent. For the period January – July 2021, there was an increase of 0.9 per cent compared to the corresponding period last year. Compared with July 2020, the categories “Housing, Water Supply, Electricity and LPG and Transport” showed the largest changes with percentages of 13.5 per cent and 8.4 per cent respectively, according to the report. The Harmonized Consumer Price Index The Harmonised Indices of Consumer Prices (HICP) measure the changes over time in the prices of consumer goods and services acquired by households. They give a comparable measure of inflation as they are calculated according to harmonised definitions.