WEDNESDAY, 30 NOV 2022

 

CONNECT

Facebook Linked In Twitter
IMH LTD

Kokkinos: Cyprus Ranks 10th In The EU As An Innovative Economy

European Commission Agreement To Mobilise €500 Mln For Social Investments

IMH LTD

BUSINESS

brought to you by Deloitte

Growth Of Cypriot Investment Funds Significantly Exceeded The European Average For Another Year

Growth Of Cypriot Investment Funds Significantly Exceeded The European Average For Another Year

The data reflected in "Fact Book 2022 – Trends in European Investment Funds" of the European Funds and Asset Management Association (EFAMA), the leading publication for Investment Funds in Europe, demonstrate the dynamics and strengths of the specific sector in Cyprus.

The Cyprus Investment Funds Association (CIFA) considers that even though in recent years the international markets have been characterized by uncertainty and volatility, the sector in Cyprus has shown resilience and continued to grow at all levels: from improving the legislative and regulatory framework to attracting new Collective Investment organizations from different countries.

Particular interest is observed in Alternative Investment Funds (AIFs), whose net assets increased by 61.5% in 2021 and reached €7.2 billion. The total net assets of AIFs in Europe amount to €8 trillion and during 2021 they recorded an increase of 12%.

At the same time, the publication once again lists Cyprus as a centre for cross-border investment funds, in line with traditional financial services centres, such as Ireland and Luxembourg, as more than 45% of the funds based in the country were held abroad.

"This trend reveals that foreign Investment Funds entrust Cyprus and consider it a reliable destination for the management of their funds", comments the president of CIFA, Andreas Yiasemides. "The effort for further recognition of Cyprus by the international markets continues and we are optimistic that the course of gradual and sustainable development will be fortified, contributing to the diversification of the professional services provision model and the Cypriot economy at large".

The resilience and attractiveness of the sector is also confirmed by the recent data for the first quarter of 2022, published by the Cyprus Securities and Exchange Commission, according to which, the number of licensed companies rose to 322, compared to 310 three months earlier. Yet more positive is the fact that the increase concerns mostly companies with activities since they increased by 11 within a quarter and reached 235. The companies' assets under management were affected by international developments and showed a slight decrease of 3.9%, amounting to 11.1 billion euros.

"Although in recent years the Investment Funds sector has developed at a very fast pace, we remain grounded and focused on the goals we have set from the beginning: To make Cyprus one of the leading centres for Investment Funds in Europe and internationally. To achieve this, earnestness, vigilance, and targeted actions are needed. This is how we started, and this is how we intend to continue our endeavour, as the benefits of the growth and development of the Investment Funds sector are many. Our efforts are for new investments in the Cypriot economy, increased revenues to state coffers, new, well-paid jobs during a time when the professional services sector is under pressure", comments A. Yiasemides.

MORE ON BUSINESS

3rd Annual Corporate Blood Donation Limassol Success

On the 2nd and 3rd of November 2022 with the initiative of the company Royal Pine, the ...

Participation Of DANOS, An Alliance Member Of BNP Paribas Real Estate In The DDC NPL Management Greece 2022 (9th Edition)

DANOS, an alliance member of BNP PARIBAS REAL ESTATE, was one of the sponsors of the DDC ...

Invest Cyprus: "Olivewood" Gets Vote Of Confidence From Leading Entertainment Firms

Invest Cyprus welcomes another international production that will be filming in Cyprus in ...

FROM AROUND GOLDNEWS

   

Grand Opening Of Simplex LCA1, Cyprus’ Largest Data Center

Data centers are the foundations of the digital economy and as evidently demonstrated during the COVID-19 pandemic, critical infrastructure for the global ...
   

Defence Minister Discusses Bilateral Relations, E. Med And Turkish Provocations During Official Serbia Visit

Cyprus’ Defence Minister, Charalambos Petrides was on an official visit to Serbia on Tuesday during which he discussed with his Serbian counterpart, ...
   

AWS Helps Ukraine Safeguard Its Future

On Tuesday, November 29, at the AWS re:Invest 2022 in Las Vegas, the Ukraine Deputy Prime Minister and Minister for Digital Transformation Mykahilo Federov and ...
   

AWS re:Invent 2022 Opens Its Doors

On Monday, November 29, the AWS re:Invent 2022 opened its doors to the global cloud community to celebrate its successes over the year, showcase the power of ...
   

Cyprus Is Dealing With The Economic Crisis With Specific Investment Policies And Programmes, Finance Minister Says

Cyprus is dealing with the economic crisis with specific investment policies and programmes, bringing growth to 6%, and increasing the fiscal reserve to ...
   

Alphamega Hypermarkets Holds Big Christmas Tree Lightning Celebration

Alphamega Hypermarkets has officially started counting down to the most wonderful time of the year. Five Alphamega stores held simultaneous Christmas tree ...
   

3rd Annual Corporate Blood Donation Limassol Success

On the 2nd and 3rd of November 2022 with the initiative of the company Royal Pine, the 3rd Annual Corporate Blood Donation Limassol took place.
   

Kokkinos: Cyprus Ranks 10th In The EU As An Innovative Economy

Cyprus, as an innovative economy, based on European indicators, currently ranks 10th, compared with 22nd until five years ago, when it did not have the ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

gold november magazine
imarcomms november

IMH LTD