Cyprus funds industry on the rise

29 May 2015




The Cyprus fund sector is starting to build momentum, with total assets recording an increase of 19.5% over the year earlier in the first quarter to reach €3.1 billion according to data from the Central Bank of Cyprus (CBC).

This was the highest level recorded this far.

The bulk of these assets comprise “shares and other equity, both listed and unlisted, which rose to €2.5bln in March, from €2.1bln in December. The number of reporting entities has risen to 81 from a low of 48 in March 2011.

Cyprus transposed the EU Directive on Undertakings for Collective Investment in Transferable Securities known as UCITS IV into national law in 2012.

Article Source: http://www.goldnews.com.cy