According to Mr Andreas Yiasemides, vice president of the Cyprus Investment Funds Association there is an increasing number of funds from China, India, Japan and from other Asian countries which traditionally did not have strong economic ties with Cyprus.
The number of Cyprus investment funds and assets under management hit record highs. According to the Central Bank of Cyprus by the end of March the total number of investment funds rose from 108 to 123 since December 2017. Total assets under management rose by 29% to 4.45 bn euros from 3.45 bn euros.
The interest for the set-up of new Cyprus Alternative Investment Funds continues to rise. According to Mrs Demetra Kalogirou Chairwomen of the Cyprus Securities and Exchange Commission there are currently 60 submitted applications for different fund structures, out of these 44 applications have been pre-approved.
Cyprus has a modern and sophisticated funds framework legislation, which is fully in line with all the relevant EU directives and regulations. Compared with other EU jurisdictions the Cypriot funds legislation provides a number of advantages. For more information regarding the advantages of a Cyprus AIF please visit our respective page.
In order to further enhance its AIF legislation and to make the country more attractive for foreign investors and for asset managers Cyprus will introduce additional changes.
Source: Bloomberg
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