The Cyprus investment funds sector has surpassed €10 billion in assets under management (AUM) for the first time in its history.
According to the latest official data from the Cyprus Securities and Exchange Commission, by the end of H1 this year, AUM reached €10.7 billion, translating to a 9% quarterly increase from the previous quarter.
Andreas Yiasemides, president of the Cyprus Investment Funds Association (CIFA), said: “Along with a series of upcoming regulatory improvements, we are confident that the sector will maintain its fast-paced growth and will considerably contribute towards the speedy recovery of the Cyprus economy.”
There was also an increase in the number of investment funds investing entirely or partially in Cyprus, from 123 to 128 only within a quarter, which means that an aggregate of €2.3 billion has been funneled into the country’s economy, or about 22% of the total AUM.
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