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articles | 18 August 2020

Cyprus investment funds continue upward trend

Cyprus’ investment funds sector continued its upward growth trend in the second quarter with the number of entities rising 5.4% to 199 from 189 in the previous quarter as total assets neared €6 billion.

According to data released by the Cyprus Central Bank, their assets rose by 3.5% compared with March, to €5.76 billion while compared to June 2019, investment funds’ assets marked an increase of 4.95%.

By nature of investments, 36% of total assets, or €2.09 billion were invested in equity, 11% (€632.4 million) were invested in real estate and approximately another 11% were invested in mixed (both equity and real estate) and 3% (€182 million) were invested in bonds.

The remaining 39% of the total assets were placed in other investments.

According to the CBC, the majority of the investment funds were open type which represented 94.6% of total assets or €5.45 billion from the total assets in June while €307 million were invested in closed type investment funds.

With regard to the investment funds liabilities, €5 billion or 87% of total liabilities were shares, €613 million loans and €144 million in other liabilities, including financial derivatives.

Source: Financial Mirror


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