CYPRUS: Investment funds assets drop to €2.7 bln in March

Investment funds assets fell to EUR 2.693 mln in March, down 6.7% from December 2015, according to the Central Bank of Cyprus.

 
Total deposits of the 75 locally licensed investment funds amounted to EUR 200.5 mln, compared to EUR 216.7 mln in March 2015.
A year ago, total assets owned by the then 78 investment reporting entities amounted to EUR 3.039,8.
Equity funds held the lion’s share of the total assets with a balance sheet amounting to EUR 1.98 bln, compared with EUR 2.20 bln in December 2015, followed by mixed funds, which invest both in shares and debt securities, with assets amounting to EUR 360.4 bln compared with EUR 369.7 mln in December 2015.
Assets held by funds investing mainly in real estate amounted to 192.9 mln from EUR 185.4 mln in December 2015, whereas bond funds’ assets in March 2016 amounted to EUR 25.5 mln compared with EUR 25.9 mln in December 2015. The assets held by other funds amounted to EUR 131.6 mln from EUR 97.3 mln in December 2015.
Of the EUR 2.69 bln of assets held by investment funds in March 2016, assets of EUR 2.20 bln were held by closed funds and the remaining EUR 487.7 by open funds.