On 24 May the Central Bank of Cyprus released its latest statistics on Cyprus-based investment funds, produced on the basis of the revised European System of Accounts 2010, giving information as at 31 March 2018.
During the quarter ended 31 March the number of investment funds increased to 123, compared with 110 at 31 December 2017, an increase of 12 per cent. The total assets of the funds concerned increased by 29 per cent in the quarter, to €4,446.1 million at 31 March 2018. Both the number of funds and the aggregate assets are at all-time highs, reflecting the attractiveness of Cyprus as a funds centre.
Since 31 December 2008, the first date for which comparable statistics were published, the number of funds resident in Cyprus has more than doubled, and there has been more than a threefold increase in their net assets.
If you have any questions about this matter or require any clarification please contact our funds advisory team or your usual contact at Elias Neocleous & Co LLC.