Collective investments managed nears €10 bln

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During the third quarter of 2022, there was an increase in Management Companies and Undertakings of Collective Investments (UCIs) to 333, with the assets under their control reaching €9.9bn.

Based on Cyprus Securities and Exchange Commission (CySEC) data, CySEC supervises 333 Management Companies and Undertakings of Collective Investments (UCIs).

Their number was 330 during Q2 2022 and 298 in the same period of the previous year, recording an increase of 0.90% and 11.74%, respectively.

Of the 333 UCIs, 242 companies have operations.

The companies include 212 Externally Managed UCIs, 43 Internally Managed UCIs and 78 External Fund Managers.

The total number of Management Companies includes 46 AIFMs, Alternative Investment Fund Managers, 65 Sub-threshold AIFMs, 4 UCITS (Undertakings for Collective Investment in Transferable Securities) Management Companies and 6 dual license entities (AIFMs and UCITS Management Companies).

Total Assets Under Management (AUM) Q3 2022 reached €9.9 bln, recording a 7.2% decrease from Q2 and the UCIs, managed by the Management Companies, had a Net Asset Value (NAV) of €8.9 bln.

And 62% of the AUM relate to Assets managed by the AIFMs, 12% by the Sub-threshold AIFMs, 17% by the AIFMs and UCITS Management Companies, 8% by the UCITS Management Companies and only 1% by the Regulated UCIs that Foreign Fund Managers manage.

UCITS invest heavily in Transferable Securities (81.7%), followed by investments in bank deposits (11%) and investments in UCITS and UCIs (5.9%).

AIFs, AIFLNPs and RAIFs invest mainly in Private Equity (42.7%), while the investment in Hedge Funds represents 8.7% of the AUM.

There are 208 UCIs in total with operations.

Some 85% of the total AUM relates to 188 UCIs domiciled in Cyprus (13 UCITS, 56 AIF, 54 AIFLNP and 65 RAIF).

Of the 208 UCIs with operations, 166 invest in Cyprus entirely or partially, reaching €2.4 bln (23.8% of the total AUM).

And 69.3% of the investments in Cyprus are in Private Equity, while 12.4% are in Real Estate.

UCITS are mainly Retail Investors (98.8%), while for AIF, AIFNLP and RAIF, 21.3% are Professional Investors, 65.8% are Well-Informed Investors, and only 12.9% are Retail Investors.