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Cyprus Business News
August 19, 2021
The total assets of investment funds increased by 11 per cent in June 2021 from March 2021, according to data released Tuesday by the Central Bank of Cyprus. Total assets of the investment funds increased to €7.3 million in June 2021 from €6.6 million in March 2021, the CBC said. The number of investment funds in June rose to 224 from 222 last March. The Cyprus Investment Funds Association currently has €9.8 billion in funds under management. the highest historical level to date, recording a significant quarterly increase of 14 per cent. “During 2020 and the COVID-19 pandemic, the Investment Fund sector was tested in Cyprus, as well as internationally, and proved to be very resilient. We were optimistic that with the gradual normalization of the situation the sector’s growth rate would intensify and we are pleased that these forecasts are confirmed,” says CIFA President Andreas Yiasemides. Out of the 166 UCIs with activities, 123 invest in Cyprus, partially or wholly, with their domestic investments amounting to €2.2 billion (22.8 per cent of total Assets under Management).