Cypriot investment fund assets hit a historic high in 2019 reaching a total of €6 bln on a 27% annual rise, data released by the Cyprus Central Bank shows.
The number of investment funds increased to 178, compared with 166 in September, while their total assets grew by around 7%, to €6.09 bln in December from €5.68 bln in the previous quarter.
The number of investment funds in December 2018 was 149 with total assets of €4.79 bln.
Further analysis of data shows that investment funds reduced their loans by more than s €100 mln in the fourth quarter of 2019 to €685.8 mln from up from €789 mln in September.
There were also additional investments mainly in shares valued at €300 mln with reduced investments in bonds by approximately €13 mln.
From total assets valued at €6.09 bln, some €2.49 bln are invested in equity, €671.2 mln in mixed stock exchange products, €177.7 mln in bonds, €610.7 mln in retail with €2.13 bln in other investments.