M. Panayiotou: Cyprus is now a ripe destination; speed is required in the implementation of important reforms concerning the sector.

During the fourth quarter of 2023, the number of Management Companies and Undertakings of Collective Investments (UCIs) was 328, with the assets under management recording a slight decrease at €8.56 bn.

Cyprus Investment Funds report growth in a pandemic environment • Annual increase of 48.7% of assets under management • A significant number of Investment Fund managers from abroad choose Cyprus as their base

The latest official data released from the Cyprus Securities and Exchange Commission (“CySEC” or “Commission”) showcase a continuously growing and dynamic Investments Funds sector in the island. Specifically, according to the statistics published by the regulator, in H1 2021, the Assets under Management (AuM) of Collective Investments reached €10.7 billion, a record high which translates into a 9% quarterly increase compared to the previous quarter.

The Cyprus Securities and Exchange Commission (‘CySEC’), has published a new Circular, informing the Alternative Investment Fund Managers (AIFMs), that the European Securities and Markets Authority (‘ESMA’), issued on June 22, 2021, the official translations in all European Union official languages (including translation in the Greek language), of its Guidelines (‘the Guidelines’), on Article 25 of Directive 2011/61/EU (‘the Directive’) with reference number ESMA34-32-701 EN.

CyprusProfile talks to Angelos Gregoriades, President of CIFA, about how he sees the investment funds sector developing, and what his expectations are for Cyprus in 2018