Total assets under management increased by 6.35 per cent to €9.1 billion in the first quarter of 2024 compared to the fourth quarter of 2023, according to a report released by the Cyprus Securities and Exchange Commission (CSE) on Wednesday (10 July).
However, a decrease of 14.89% was recorded compared to the same period in 2023. The total net asset value was €8.6bn. Of this, 59% came from AIFMs, 18% from AIFMs not exceeding thresholds, 11% from AIF and UCITS fund management companies, 11% from UCITS fund management companies and 1% from companies managed by external managers.
ΕΚΚ currently supervises a total of 328 collective investment management companies and collective investment organisations, of which 224 are operational. Of the total number of companies, 226 are externally managed, 33 are internally managed and 69 are externally managed. The total number of management companies includes 42 AIFM, 51 AIFM below the threshold, 3 UCITS management companies and 6 companies with dual authorisation (AIFM and UCITS management companies).
As regards the investment policy of UCITS, about 90.6% of the assets under management are invested in transferable securities, followed by investments in deposits with an interest rate of 6.9% and other investments.
On the other hand, OEE, OEEPAP and KOEE invest 32.6% of their assets in private equity, 17.3% in real estate, 12.2% in compensation funds, 11.1% in OSE shares and others.
In particular, 199 Cypriot OSEs (10 UCITS, 53 AIF, 62 OEEPAP and 30 KOE) account for 75% of the assets under management. Of the 224 OSEs operating in Cyprus, 161 invest all or part of their assets in Cyprus and their investments amount to approximately EUR 2.4 billion (26.8% of total assets under management). 65.7% of investments in Cyprus are in private equity, while 13.5% are in real estate.
In terms of investor classification, in UCITS 99.2% are retail investors, while in other funds 67.8% are professional investors, 19.8% qualified investors and only 12.4% retail investors.
Finally, in terms of sector-specific OSE investments in the first quarter of 2024, assets under management in the energy sector amounted to 533.3 million euros (5.86% of total ESA), in the financial technology sector to 220.4 million euros (2.42% of total ESA), in the shipping sector to 657.9 million euros (7.22% of total ESA), in sustainable investments to 36.9 million euros (0.35% of total ESA) and in the cryptocurrency sector to 95.1 million euros (1% of total ESA).