Cyprus Securities and Exchange Commission: Things are looking promising
On November 2022, CySEC (Cyprus Securities and Exchange Commission) issued its report on the Management Companies and Undertakings of Collective Investments Sector Quarterly Statistics, a bulletin containing the most important information regarding the Collective Investment Schemes Sector, based on the 2nd quarter of 2022.
The Investment Funds industry is growing and has been advancing quickly in recent years. According to data for the second quarter of 2022, there are:
- 330 management companies and undertakings of collective investments that are under the control of CySEC (UCIs). 237 businesses have operations from these.
- There are 75 external fund managers, 45 internally managed UCIs, and 210 externally managed UCIs in total.
- 43 AIFMs, 67 Sub-threshold AIFMs, 4 UCITS Management Companies, and 6 dual licensing organizations make up the total number of Management Companies (AIFMs and UCITS Management Companies).
The UCIs, managed by the Management Companies, had a Net Asset Value (NAV) of €9.5 billion, and the Total Assets Under Management (AUM) for the second quarter of 2022 reached €10.6 billion, reflecting a 4.1% decline from the first quarter of 2022. About 61% of the AUM is related to Assets managed by AIFMs, 13% by Sub-threshold AIFMs, and 4% by other AIFMs.
Only 1% of the Regulated UCIs that are managed by Foreign Fund Managers, 17% by AIFMs and UCITS Management Companies, 8% by UCITS Management Companies
Assets Under Management
There are now 205 UCIs in use. 181 UCIs with a Cyprus domicile account for 83% of the entire AUM (10 UCITS, 56 AIF, 58 AIFLNP, and 57 RAIF).
A total of 162 of the 205 UCIs that UCI Management Companies oversee invest wholly or partially in Cyprus, totalling €2.6 billion (24%) in investments there. Private equity accounts for 71.8% of investments in Cyprus, while real estate accounts for 11.7% of assets there.
You can read the full report here.
See below some highlights of the report