According to a report released by the Cyprus Securities and Exchange Commission (CSE) on Tuesday 15 October, total assets under management increased by 2.88% to €9.4 billion in the second quarter of 2024, compared to the first quarter of 2024.
At the same time, there was a decrease of 12.0% compared to the same period in 2023. The total net asset value was €8.9bn. 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 AIFMs, 51 AIFMs below the threshold, 3 UCITS management companies and 6 dual-licensed companies (AIFM and UCITS management companies).
With regard to the investment policy of UCITS, approximately 89.3% of the assets under management are invested in securities, followed by investments in deposits with an interest rate of 7%.
On the other hand, 32.2% of the assets managed by OEE, OEEPAP and KOEE are invested in private equity, 11.7% in real estate, 13.2% in compensation funds, 11.3% in OSE shares and others.
In particular, 74% of the assets under management are held by 198 Cypriot OSEs (13 UCITS, 49 AIF, 45 OEEPAP and 91 KOEE). Of the 224 OSEs operating in Cyprus, 162 invest partly or fully in Cyprus and their investments amount to around EUR 2.5 billion (26% of total assets under management). 68.5% of investments in Cyprus are in private equity, while 12.8% are in real estate.
In terms of investor classification, in UCITS 99.1% are retail investors, while in other funds 68.8% are professional investors, 18.8% are qualified investors and only 12.4% are retail investors.
Finally, in terms of sector-specific OSE investments in the second quarter of 2024, assets under management in the energy sector totalled €543.4 million (5.802% of total ESA), in the financial technology sector €233.5 million (2.493% of total ESA), in the shipping sector €743.1 million (7.934% of total ESA), in sustainable investments €77.9 million (0.832% of total ESA) and in the cryptocurrency sector €95.1 million (1% of total ESA).