According to data released by the Central Bank, Cyprus investment funds are on the rise. The total assets of investment funds increased by approximately €700 million on a quarterly basis, reaching a historically high level.
The total assets of investment funds increased at the end of December 2017 to €3.45 billion, compared to €2.74 billion in September 2017, showing an increase of approximately 26% within three months, the highest level ever recorded. By comparison to 2008, the total assets of investment funds in Cyprus have almost tripled.
The number of investment funds rose to 114 in December 2017, compared to 108 in September 2017 and 55 in 2008.
Furthermore, the data showed that the deposits and loans of the investment funds amounted to €220.4 million in December 2017, while their investments in securities stood at €240.3 million, in shares and other related securities at €2.69 billion, in non-financial items at €127.8 million and in other assets at €175.1 million.
These figures show that Cyprus is moving in the right direction to establish itself as a regional and international fund center, as larger investment funds with increased assets are registered in Cyprus. This dynamic increase is expected to continue during this year, as the results from the approval and registration of several investment funds in Cyprus are under way.
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