Assets under management of collective investment firms registered in Cyprus amounted to pound 9.4 billion, marking a quarterly increase of 2.9% whereas assets declined by 12.8% compared with the respective period of last year.
According to a statistical bulletin titled ‘Management Companies and Undertakings of Collective Investments,’ issued by the Cyprus Securities and Exchange Commission (CySec), in the second quarter of this year the number of Management Companies and Undertakings of Collective Investments (UCIs) amounted to 328, remaining at the same level for a third consecutive quarter.
From these companies, 250 entities have operations. The total number of entities includes, 226 Externally Managed UCIs, 33 Internally Managed UCIs and 69 External Fund Managers. The total number of Management Companies includes 44 AIFMs, 50 Sub-threshold AIFMs, 3 UCITS Management Companies and 5 dual license entities (AIFMs and UCITS Management Companies).
The Total Assets Under Management (AUM) for the 2nd quarter of
2024 reached pound 9.4 billion, recording a 2.88% increase since the 1st quarter of 2024, and the UCIs, managed by the Management Companies had a Net Asset Value (NAV) of pound 8.9 billion. The 59% of the AUM relates to Assets managed by the AIFMs, 18% by the AIFMs and UCITS Management Companies, 11% by the Sub-threshold AIFMs, 11% by the UCITS Management Companies and only 1% by the Regulated UCIs that are managed by Foreign Fund Managers.
According to CySec, UCITS invest heavily in Transferable Securities (89.3%), followed by investments in UCITS and other UCIs (7%), and investments in bank deposits (2.6%). AIFs, AIFLNPs
and RAIFs primarily allocate their investments in Private Equity (32.2%), following by investments in Hedge Funds (13.2%) and Real Estate (11.7%), while the investments in Funds of Funds represent the 11.3% of the AUM.
There are 225 UCIs in total with operations. The 74.1% of the total AUM, relates to 198 UCIs domiciled in Cyprus (13 UCITS, 49 AIFs, 45 AIFLNPs and 91 RAIFs). From the tot
al 225 UCIs with operations, 162 invest in Cyprus entirely or partially, reaching the amount of pound 2.5 billion (26.6% of the total AUM). The 68.5% of the investments in Cyprus are in Private Equity, while the 12.8% of the investments in Cyprus are allocated in Real Estate.
Regarding the categorisation of the unit-holders, for UCITS these are mainly Retail Investors (99.1%), while for AIF, AIFNLP and RAIF, 68.8% of them are Well-informed Investors, 18.8% are Professional Investors, and only 12.4% of the investors are classified as Retail Investors.
Source: Cyprus News Agency