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Investment funds assets show significant decrease in 3rd quarter of 2023

Total assets from investment funds recorded in the third quarter of 2023 a significant decrease, despite the increase in their number.

This is included in the Central Bank of Cyprus Investment Funds statistics for the reference month of September 2023. These statistics are included in the November 2023 publication Investment Funds Statistics.

According to the Central Bank, the number of investment funds increased from 307 in June 2023 to 321 in September 2023, whereas their total assets decreased by approximately 24.6% to €6,550.3 million in September 2023, compared with €8,685.7 million in June 2023.

It says that "the decrease is mainly caused by the redemption of shares by funds, due to corporate restructuring within Cyprus."

According to the data, the total value of shares and other related securities in the assets of investment funds, decreased to €4.64 billion in September 2023 from €6.71 billion in June of the same year. Their deposits and loans also showed a decrease, falling to €758 million compared to €875 million in June.

On the other hand, the value of securities in the assets of investment funds increased to €614 million in September 2023 from €585 million in June of the same year. Non-financial assets also showed increases, including fixed assets (€355 million from €346 million), while other assets including financial derivatives increased to €180 million in September 2023 from €172 million in June same year.

(Source: CNA)

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