Cyprus is one of the fastest growing centres of investment fund activity in Europe, thanks to the focused and continuous development of the legislative and regulatory framework, as well as a strong financial services sector, which make the island nation a leading jurisdiction in investment and finance.
The Cyprus Securities and Exchange Commission (ΕΚΚ) released a quarterly statistical report on Wednesday, 15 May, and it shows that total assets under management went up by 10.21% to €10.1 billion in the last quarter of 2024 compared to the previous one.
EKKK currently manages 321 collective investment management companies and organisations, of which 253 are active.
Maria Panayiotou, head of the Cyprus Investment Funds Association (CIFA), had some comments on the results for the last quarter of 2024.
She said that Cyprus' strategy to create a sustainable, flexible and competitive environment for investment funds has started to really pay off.
The growth in assets under management, the launch of new funds and the strengthening of the position in the domestic market inspire us with optimism, but also mean we have to take responsibility for the future development of the sector,' Panayiotou said.
Panayiotou also revealed that the total net asset value of funds in Cyprus reached €9.6 billion. This growth covered a wide range of investment schemes, which came about because new funds were set up and existing funds were expanded. The most activity was recorded in structures like:
- UCITS (that's collective investment organisations for collective investment in tradable securities, by the way),
- AIF (alternative investment funds),
- AIFLNP (AIFs with a limited number of participants),
- RAIFs (registered alternative funds) are another option.
This diversity is a real draw for investors with different strategies and objectives, which reinforces Cyprus' reputation as a reliable investment platform. Panayiotou made it clear that CIFA will carry on doing all it can to promote Cyprus as an investment hub on the international stage.
We're in regular talks with the relevant government authorities and regulators, taking part in international forums, organising roadshows and building partnerships both locally and globally," she said.
The association has already planned three international roadshows in key jurisdictions. These events will give fund managers and stakeholders the chance to present the investment advantages of Cyprus to a wider audience.
By promoting the Cypriot investment ecosystem and getting involved in financial policies, we boost Cyprus's position on the global map and help the country's economy to grow in a sustainable way,' the CIFA head explained.