CENTRAL BANK OF CYPRUS DENOTES THE GROWING SIGNIFICANCE OF INVESTMENT FUNDS IN CYPRUS

On August 25, the Central Bank of Cyprus (CBC) released its second quarterly publication “Investment Funds Statistics”, highlighting aggregated data concerning Investment Funds (IFs) for the reference quarters December 2008 to June 2014. The data is assembled by the Statistics Department of the CBC, based on the statistical data submitted by IFs resident in Cyprus, according to Regulation (EC) No 958/2007 of the European Central Bank (ECB/2007/8).

The growth in registration of IFs has been central to the Government’s policy and it is by no coincidence that the new Alternative Investment Funds Law came into force earlier in August. Investment Funds have gained great popularity and significance in the Cyprus economy over time, with the total number of IFs rising to 76 in June 2014 from 55 in December 2008 and their total assets increasing from approximately €1.3 million in December 2008 to approximately €3.2 million in June 2014.

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