During the 3rd quarter of 2022, there was an increase in the number of Management Companies and Undertakings of Collective Investments (UCIs) to 333, with the assets under management reaching €9.9bn.
Based on the quarterly statistics bulletin for the 3rd quarter of 2022 issued by the Cyprus Securities and Exchange Commission (CySEC), which presents the most important data for the Collective Investments sector in Cyprus, CySEC supervises 333 Management Companies and Undertakings of Collective Investments (UCIs).
Their number was 330 during the second quarter of the same year and 298 during the same period of the previous year, recording an increase of 0.90% and 11.74% respectively.
From these, it adds, 242 have operations.
More specifically, in the summary it is noted that based on the statistics for the 3rd quarter of 2022, CySEC has under its supervision in total 333 Management Companies and Undertakings of Collective Investments (UCIs). From these, 242 companies have operations.
It adds that the total number of companies includes, 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 Manager, 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).
Moreover, it says that the Total Assets Under Management (AUM) for the 3rd quarter of 2022 reached €9.9 billion, recording a 7.2% decrease since the 2nd quarter of 2022 and the UCIs, managed by the Management Companies had a Net Asset Value (NAV) of €8.9 billion. The 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 are managed by Foreign Fund Managers.
UCITS, it notes, invest heavily in Transferable Securities (81.7%), followed by the 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 the 8.7% of the AUM.
Furthermore, it says that there are 208 UCIs in total with operations. The 85% of the total AUM, relates to 188 UCIs domiciled in Cyprus (13 UCITS, 56 AIF, 54 AIFLNP and 65 RAIF). From the total 208 UCIs with operations, 166 invest in Cyprus entirely or partially, reaching the amount of €2.4 billion (23.8% of the total AUM). The 69.3% of the investments in Cyprus are in Private Equity, while the 12.4% of the investments in Cyprus are in Real Estate.
Regarding the categorisation of the unit-holders, for UCITS these are mainly Retail Investors (98.8%), while for AIF, AIFNLP and RAIF, 21.3% of them are Professional Investors, 65.8% Well-Informed Investors and only 12.9% Retail Investors, it concludes.