New quarterly reporting requirements for funds management companies and self-managed funds

Circular C281 issued by the Cyprus Securities and Exchange Commission (CySEC) on 25 September 2018 sets out new reporting dates and additional statistical information required by CySEC for compilation of its quarterly statistics relating to management companies and self-managed funds. The new arrangements apply to all Alternative Investment Fund Managers, UCITS Management Companies, Self-Managed UCITS, Self-Managed Alternative Investment Funds, Self-Managed Alternative Investment Funds with Limited Number of Persons and Companies with the sole purpose of managing AIFLNPs regulated by CySEC.

CySEC’s quarterly reporting form (form QST-MC) now requires the following additional information:

  • For each Undertaking of Collective Investment, the amount of total assets under management which is invested in Cyprus, the total net asset value and the amount of total assets.
  • A breakdown of assets under management and total assets by country for each category of Undertaking of Collective Investment.
  • An analysis of clients showing the number of clients and the aggregate assets under management for each client category (retail, well-informed and professional.
  • A geographical analysis of the number of unitholders and aggregate assets under management by country of origin of the unitholder, split between retail, well-informed and professional investors.

The reporting deadline has been shortened from one month after the end of the quarter to 15 days after the end of the quarter.

The new requirements apply with immediate effect and quarterly returns including the additional information for the quarter ending 30 September 2018 must be submitted by 15 October 2018.

For further information on this matter please contact Dimitris Papoutsis or your usual contact at Elias Neocleous & Co LLC.