articles | 23 May 2024

Cyprus investment funds see €293 million rise in asset value

The total assets of investment funds in Cyprus increased by approximately €293 million in March of this year, representing a rise of 4.5 per cent compared to December 2023, reaching €6.78 billion.

According to an announcement by the Central Bank of Cyprus (CBC), which shared the latest investment fund figures this week, “this growth was primarily driven by a rise of around €260 million in investments in stocks and related securities, which totalled €4.93 billion”. What is more, the central bank explained that the number of investment funds grew from 316 in December 2023 to 328 in March 2024. Consequently, the total assets of these funds saw a 4.5 per cent increase, climbing to €6.78 billion in March 2024, up from €6.49 billion in December 2023.

In addition, data from the CBC indicated that deposits and loans held by these funds rose to €782.5 million at the end of March, up from €760.9 million in December 2023.

Finally, it should be noted that the value of securities held by these funds in March 2024 increased to €570.9 million, reflecting an increase of the previously recorded figure of €554.6 million.

Source: Cyprus Mail

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