Assets of investment funds in Cyprus down 5.7%

Despite the small increase in number, total assets of investment funds in Cyprus decreased by 5.7% in the fourth quarter of 2022, according to data released on Friday by the Central Bank of Cyprus (CBC).

The number of investment funds increased from 284 in September 2022 to 286 in December 2022, while their total assets decreased by 5.7% to €7.8 billion in December 2022, compared to €8.2 billion in September 2022. Compared to December 2021, the total assets of investment organizations recorded a drop of 11.2%.

In particular, deposits and loans of investment funds decreased to €794.3 million in the fourth quarter of 2022, from €856.5 million in the previous quarter, while securities fell to €505.3 million from €799.4 million in the third quarter.

Total of shares and related securities of investment institutions fell to €5.97 billion in the fourth quarter of 2022, from €6.06 billion in the third quarter, while non-financial assets, including fixed assets decreased to €305 million from €316 million in the previous quarter. Other assets fell to €177 m at the end of December from €190 m at the end of June 2022.

In terms of liabilities, loans fell to €143m in Q4 2022 from €536m in the previous quarter, while stocks and shares fell to €7.35bn from €7.48bn in Q3. Other liabilities of investment funds recorded an increase, to €262 million at the end of December 2022 from €208 million in the previous quarter.