Loading...
Home  |  Related Articles  |  Fund management industry is booming in Cyprus

Related Articles

Fund management industry is booming in Cyprus

Cyprus hopes that this boom will put it in a strong position to become a credible alternative for UK-based asset managers seeking to expand or move following Brexit.

“I am delighted to note, that fund management is part of this new beginning for the Cyprus economy,” finance minister Harris Georgiades said at the 4th International Funds Summit in Nicosia.

In the last three years, funds established in Cyprus have risen by nearly 70%, from 13 in 2013 to 172 in 2018, while total assets under management rose to €5.7bn (£4.9bn) by September this year, marking an increase of 90%.

Confidence in the sector has been boosted by the announcement that Cyprus funds, UCITS and AIFs will be eligible to be listed on Clearstream’s Vestima fund processing platform.

“This is another leap forward for the Cyprus fund industry following the initial listing in June 2018 of more than 35 Cyprus domiciled funds on the Thomson Reuters platform,” Angelos Gregoriades, of the Cyprus Investment Funds Association said.

By the end of 2018, the Cyprus economy will have grown by 16% of GDP, which more than covers lost ground, and if all goes well, growth is expected to remain above 3% annually for the next three years, the country’s finance minister added. These rates make Cyprus one of the fastest growing economies in EU

Apart from tourism, shipping, real estate and business services, Cyprus’ productive base is expanding into new sectors such as higher education, innovation, offshore natural gas and renewable energy, he added.

Georgiades highlighted the rise of Cyprus as a new destination for Fund Management as an excellent example of government, industry, and regulators, working together to ensure that all the ingredients of success are in place as the country positions itself for a Brexit windfall.

“If our industry has been able to grow, it is due to a constant drive to improve quality in our products and services,” the head of the Cyprus Investment Funds Association added.

source: https://www.internationalinvestment.net/internationalinvestment/news/3505953/fund-management-industry-booming-cyprus

 

 

Latest Articles
The Cyprus Investment Programme And The Benefits

The Cyprus Investment Programme And The Benefits

The Cyprus Investment Programme And The Benefits read more
Hong Kong crisis could pave the way for investments in Cyprus

Hong Kong crisis could pave the way for investments in Cyprus

Hong Kong crisis could pave the way for investments in Cyprus read more
Cyprus to abolish ship registration fees to boost registry

Cyprus to abolish ship registration fees to boost registry

Cyprus to abolish ship registration fees to boost registry read more
Cyprus receives intense international interest for gas supply tender

Cyprus receives intense international interest for gas supply tender

Cyprus receives intense international interest for gas supply tender read more
Total assets of investment funds up by 4% in the 2nd quarter

Total assets of investment funds up by 4% in the 2nd quarter

Total assets of investment funds up by 4% in the 2nd quarter read more
Chinese investors in €30 million property deal

Chinese investors in €30 million property deal

Chinese investors in €30 million property deal  read more
Discount village to supplement Nicosia Mall

Discount village to supplement Nicosia Mall

Discount village to supplement Nicosia Mall read more
Cyprus real estate sector looking up

Cyprus real estate sector looking up

Cyprus’ real estate sector is continuing to thrive, building on the upward trend of previous years, ... read more
By end of 2018, Cyprus will have recovered lost economic ground, Georgiades says

By end of 2018, Cyprus will have recovered lost economic ground, Georgiades says

By the end of 2018, the Cyprus economy will have grown by 16 per cent of GDP, which more than covers ... read more
EC forecasts strong economic growth set to continue

EC forecasts strong economic growth set to continue

The Cypriot economy is expected to maintain its strong growth rates in the next couple of years though ... read more
Cabinet Approves Start-Up Scheme to Attract Foreign Investment

Cabinet Approves Start-Up Scheme to Attract Foreign Investment

A scheme aimed at attracting foreign investment to Cyprus through third-country – i.e. non-European ... read more
CYPRUS: Growth seen at 3.1% in 2017, above 2.9% in 2016, says UCy

CYPRUS: Growth seen at 3.1% in 2017, above 2.9% in 2016, says UCy

Economic growth is expected to continue this year and real GDP is projected to increase by 3.1%, up ... read more
Cypriot passport ranks 13th on global power scale

Cypriot passport ranks 13th on global power scale

The Cypriot passport ranks among the strongest in the world, as holders are able to travel to 146 countries ... read more
Total readies drills in Cyprus, Egypt in regional growth push

Total readies drills in Cyprus, Egypt in regional growth push

France's Total (TOTF.PA) is preparing to drill for gas off Cyprus, close to ENI's huge Zohr discovery ... read more
It’s not only the flamingos, Larnaca has highest percentage of return visitors

It’s not only the flamingos, Larnaca has highest percentage of return visitors

Larnaca has the highest percentage of return visitors of all coastal cities in Cyprus with 60 per cent ... read more
CYPRUS: Gov’t committed to prudent fiscal discipline

CYPRUS: Gov’t committed to prudent fiscal discipline

Finance Minister Harris Georgiades told his counterparts during a Eurogroup meeting in Brussels on 2017 ... read more
Cyprus Wins Silver Award in

Cyprus Wins Silver Award in

Best Destination for Responsible Tourism live in and better places for people to visit. Whether a village, ... read more
Business Climate Improves in Cyprus:

Business Climate Improves in Cyprus:

The World Bank's 2016 "Doing Business Report" lists Cyprus amongst ten countries with improving economies, ... read more
Convincing comeback for Bank of Cyprus
AUDIT SERVICES

Convincing comeback for Bank of Cyprus

* Lender sells first internationally placed bond since 2007   * Follows bail-in of senior and sub ... read more
Top Reasons to Invest in Cyprus
TAX SERVICES: INDIVIDUAL

Top Reasons to Invest in Cyprus

    read more
CYPRUS: CIPA promotes alternative investment destination after Brexit

CYPRUS: CIPA promotes alternative investment destination after Brexit

Cyprus can play a significant role as a base for regional offices or headquarters of international ... read more