CySEC reports on Cyprus UCI asset management changes, highlighting asset trends, investor categories, and sector investments.
CySEC reports on Cyprus UCI asset management changes, highlighting asset trends, investor categories, and sector investments.
The Cyprus Securities and Exchange Commission (CySEC) reported changes in UCI management, showing that the number of Management Companies and Undertakings of Collective Investments (UCIs) in Cyprus has remained stable at 328 for the second quarter of 2024. However, this marks a slight decrease from 334 in the same period last year, reflecting a 1.8% drop in regulatory oversight.
The total assets under management (AUM) saw a positive shift, rising 2.88% from the previous quarter to reach €9.4 billion. Despite this quarter-on-quarter growth, AUM dropped 12.8% compared to the same quarter in 2023. The net asset value of the UCIs managed stood at €8.9 billion, showcasing a complex investment landscape amid regulatory changes.
CySEC currently supervises 236 Externally Managed UCIs, 33 Internally Managed UCIs, and 69 External Fund Managers, including 44 Alternative Investment Fund Managers (AIFMs) and 50 Sub-threshold AIFMs. The regulatory framework also encompasses 3 UCITS Management Companies and five dual-license entities functioning as AIFMs and UCITS Management Companies.
Regarding asset allocation, AIFMs manage 59% of the total AUM. The distribution shows that AIFMs and UCITS Management Companies handle 18% of the AUM, while Sub-threshold AIFMs and UCITS Management Companies manage 11% each.
Interestingly, regulated UCIs managed by foreign fund managers constituted 1%. Investment trends revealed that most UCITS assets, amounting to 89.3%, were concentrated in transferable securities. AIFs, AIFLNPs, and RAIFs showed substantial investments in private equity, hedge funds, and real estate, although funds of funds accounted for a smaller proportion of the AUM.
Among the 225 operational UCIs, 198 are domiciled in Cyprus, holding 74.1% of the AUM. Retail investors dominate UCITS, while AIFs primarily attract well-informed and professional investors. Sector-specific investments during the quarter included significant allocations to energy (€543 million), fintech (€233 million), shipping (€743 million), and sustainable projects (€78 million).
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