The Cyprus fund business is starting to build momentum, with total assets recording an increase of 19.5% over the year earlier in Q1 to reach €3.1 billion according to data from the Central Bank of Cyprus.
This was highest levelon record.
The bulk of these assets comprise shares and other equity, both listed and unlisted, which rose to €2.5bn in March, from €2.1bn in December.
The number of reporting entities has risen to 81 from a low of 48 in March 2011.
Cyprus transposed the EU directive on Undertakings for Collective Investment in Transferable Securities known as UCITS IV into national law in 2012.