Cyprus Social Fund stays away from CSE

The Cyprus State-owned and managed Social Insurance Fund, which probably has the lowest return on investment of less than 4% is free to make its own investment decisions, including its insistence to stay away from investing in the Cyprus Stock Exchange (CSE) said Finance Minister Michalis Sarris.

Speaking at the House of Representatives, Sarris was asked if the state could ask the Fund to invest part of its funds in the local stock exchange, and he replied that “this is not a matter for the government but a policy decision of the Fund.”

Foreign experts called and in by the government have advised that the Fund should invest in equity markets, but have recommended that it invests in overseas markets and not the CSE.