IIFA Conference is ‘vote of confidence’

The 36th annual conference of the International Investment Funds Association (IIFA) held in Limassol is a vote of confidence in the Cypriot ecosystem of investment funds, declared Investment Funds Association (CIFA) President Andreas Yiasemides.

At the two-day IIFA international conference (24-25 October), Yiasemides said Cyprus has developed into a dynamic hub for investment funds, registering a rapid increase in both numbers and value.

“This rapid increase makes Cyprus one of the fastest growing centres of investment funds in the European Union.

“Cyprus offers a harmonised regulatory framework, competitive costs ideal for small and medium capital, an efficient tax regime and an extensive network of double taxation avoidance,” he told CNA.

He pointed out that Cyprus’ strategic geographical position works as a bridge to Europe with key markets in the Middle East, North Africa, and Asia, allowing fund managers to access a wide range of investment opportunities.

Despite the challenges in the region with the irregular situation in neighbouring Israel, Yiasemides believes there is no cause for concern for Cyprus, which remains a “safe investment destination.”

He welcomed the IIFA international conference, held in Cyprus for the first time, arguing the presence of representatives of the largest Associations of Investment Funds and Managers is a vote of confidence in the Cypriot fund ecosystem.

The conference is attended by representatives from the largest associations and managers of Investment Funds worldwide and is considered one of the leading international forums for the sector.

IIFA has members from 40 countries, including the USA, Canada, India, Japan, Korea, and several EU member states.