articles | 10 December 2019

Assets under management of Collective Investments at €7.7b

Management Companies and Undertakings of Collective Investments (UCIs) recorded a further increase in the third quarter of 2019, according to the quarterly bulletin issued by the Cyprus Securities and Exchange Commission (CySEC). The bulletin, which is already posted on CySEC’s website, provides the key findings regarding the Collective Investment Schemes Sector in Cyprus.

Based on the statistics for the third quarter of 2019, CySEC has a total of 203 Management Companies and Undertakings of Collective Investments (UCIs) under its supervision. From these, 130 companies have operations. The total number of companies includes 104 Externally Managed UCIs, 58 Internally Managed UCIs and 41 External Fund Managers. The total number of Management Companies includes 28 AIFMs, 67 Sub-threshold AIFMs and 4 UCITS Management Companies.

The total Assets Under Management (AUM) for the third quarter of 2019 reached €7.7 billion,recording a 12% increase compared to the second quarter of 2019, while the UCIs, managed by the Management Companies, had a Net Asset Value (NAV) of €5.6 billion. Approximately64.6% of the AUM relate to Assets managed by the AIFMs, 28.2% by the Sub-threshold AIFMs, 3.2% by the UCITS Management Companies, 2.7% by the CIFs and only 1.3% by the Regulated UCIs that are managed by Foreign Fund Managers.

UCITSs invest heavily in Transferable Securities (80%), followed by investments in Bank Deposits (10%). AIFs, AIFLNPs and RAIFs invest mainly in Private Equity (40%), while investment in Real Estate represents 15% of the AUM.

There are 117 UCIs in total with operations. The 71% of the total AUM relates to 105 UCIs domiciled in Cyprus (10 UCITS, 32 AIF, 62 AIFLNP and 1 RAIF). From the total 117 UCIs managed by UCIs Management Companies, 79 invest in Cyprus entirely or partially and €1.9billion (26%) are investments made in Cyprus. The 48% of the investments in Cyprus are in Private Equity, while 15% of the investments in Cyprus are in Real Estate.

Finally, categorising the unit-holders, for UCITs these are mainly Retail Investors (99.3%), while for AIF, AIFNLP and RAIF, 51.5% of them are Professional Investors, 45.3% Well- Informed Investors and only 3.2% Retail Investors.

Source: Cysec

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