The total value of Assets under Management (AuM) of Collective Investments reached a record €10.7 billion in the first half of 2021, data from the Cyprus Securities and Exchange Commission showed on Monday.
According to CySEC, this figure also represents a 9 per cent increase quarter-on-quarter.
The Cyprus Investment Funds Association (CIFA) has welcomed this expansion, while acknowledging that the number of funds licensed by the commission during this time increased, reaching a total of 289 Management Companies and Undertakings for Collective Investments (UCIs) under its supervision, 201 of which pursued domestic investments which helped the local economy.
“We are pleased by the steady growth of both the number of assets under management, as well as the number of fund structures licensed and active in Cyprus. CIFA will continue its targeted efforts to promote the sector abroad,” CIFA president Andreas Yiasemides said.
“Along with a series of upcoming regulatory improvements, we are confident that the sector will maintain its fast-paced growth and will considerably contribute towards the speedy recovery of the Cyprus economy,” Yiasemides added.
CIFA also appreciated the increase of the total number of Investment Funds, whether they invest partially or entirely in Cyprus, from 123 to 128 during the previous quarter, facilitating a total sum of €2.3 billion being pumped into the Cypriot economy, representing 21.8 per cent of the total value of Assets under Management (AuM).