Companies category powered by

CIFA: Investment Funds inject nearly €3 billion into the Cypriot economy

The Cyprus Investment Funds Association (CIFA) has underscored the substantial contribution of Investment Funds to the economic development of Cyprus, as highlighted by recent data released by the Cyprus Securities and Exchange Commission.

According to an Association announcement, total assets invested in Cyprus have surged to a record-breaking €2.9 billion, marking a significant milestone and amplifying the sector's role in fortifying the country's economic expansion and diversification, especially in these turbulent times.

Investments in Cyprus now constitute a remarkable 26.7% of the total assets under management, which stand at €10.7 billion as of the end of the second quarter of 2023. the announcement continued. This upward trajectory is underpinned by the operations of 254 companies licensed by the Securities and Exchange Commission, reflecting a remarkable growth of approximately 7.2% within a year.

Furthermore, there is a steadfast trend in investments across pivotal sectors, with notable commitments in Energy (€456 million), Sustainable Investment (€72 million), Shipping (€555 million), and Fintech (€108 million), the announcement said.

CIFA's President, Andreas Yiasemides, emphasized the resilience and dynamism displayed by the Investment Funds sector, highlighting the tangible proof that collective efforts can yield remarkable results. He stated, "The ascent of Collective Investment Funds during a period of considerable economic and corporate financial stress is tangible evidence of the unwavering faith and determination we have exhibited in recent years to foster sustainable growth within the sector. We are not only witnessing an increase in investments across critical economic sectors but also a continuous generation of new skilled employment opportunities."

Read More

Cyprus film incentives scheme production ‘The Moustakas Sisters Mysteries' to make UK premiere
OMIROS acquires Hadjipieris Dairy and plans to invest €30m in Cyprus over next five years
Cyprus Marine Club hosts members’ get-together with actor and communication coach Marios Ioannou
OMONOIA has been certified with ISO 37001 against bribery and corruption
Cypriot John Ioannou appointed as TITAN's new Group CFO
Harris Kyriakides Seminar: “Latest Developments in Insurance Law”
ICan Primary School is officially listed among the Licensed Schools by the Ministry of Education of Cyprus
Cloud Tech Expo, Cyprus, 2025 delivers on its promise to demystify digital transformation
Thrasos Tsangarides: Public and private sector collaboration is essential in shaping a future-ready maritime ecosystem
Banking Department of Harris Kyriakides organisers seminar on 'Latest Developments in Banking Litigation'