Assets under management total €9.1b in Q3 of 2024

The number of Management Companies and Undertakings of Collective Investments (UCIs) in the third quarter of 2024 were 323, with the assets under management totalling €9.1b.

Based on the quarterly statistics bulletin by the Cyprus Securities and Exchange Commission (CySEC), which presents the most important data for the Collective Investments sector in Cyprus, CySEC supervises 323 Management Companies and Undertakings of Collective Investments (UCIs), as opposed to 335 during the same period of the previous year, recording a decrease of 3.58%.

The total number of 323 entities includes 222 Externally Managed UCIs, 33 Internally Managed UCIs and 68 External Fund Managers. The total number of Management Companies includes 44 AIFMs, 49 Sub-threshold AIFMs, 3 UCITS Management Companies and 5 dual license entities (AIFMs and UCITS Management Companies).

Based on the data for the third quarter of 2024, the Total Assets Under Management (AUM) reached €9.1 billion, recording a decrease of 2.43% since the second quarter of 2024, whereas compared to the same period in 2023, there was an increase of 6.08%. Furthermore, the UCIs, managed by the Management Companies, had a Net Asset Value (NAV) of €8.7 billion.

The 59% of the AUM relates to Assets managed by the AIFMs, 18% by the AIFMs and UCITS Management Companies, 11% by the Sub-threshold AIFMs, 11% by the UCITS Management Companies and only 1% by the Regulated UCIs that are managed by Foreign Fund Managers.

The 89.7% of UCITS’ Assets under Management was invested in Transferable Securities and 7.9% was invested in UCITS and other UCIs while 1.3% in bank deposits. Regarding AIFs, AIFLNPs and RAIFs 33.1% of the Assets Under Management related to investments in Private Equity, while the investment in Real Estate represents the 12.7% of the AUM. Investments in Hedge Funds account for 9.8% while Investments in Funds of Funds constitute 9.2% of the AUM of the total Assets Under Management.

There is a total of 221 UCIs with operations. The 75.2% of the total AUM is held by 199 UCIs domiciled in Cyprus (12 UCITS, 50 AIFs, 43 AIFLNPs and 94 RAIFs). From the total 221 UCIs, 166 invest in Cyprus partially or entirely and these investments amount to €2.6 billion or 28.12% of the total Assets Under Management. The 67.7% of the investments in Cyprus are in Private Equity, while the 14.3% are in Real Estate.

When it comes to categorising unitholders, the vast majority of UCITS are retail investors (99.1%), while for AIFs, AIFNLPs and RAIFs, 67.9% are well-informed investors, 19.5% of them are professional investors, and only 12.6% are retail investors.

Regarding the specific sectors that UCIs invested in, during the third quarter of 2024, AUM in the Energy sector amounted to €505.9m (5.536% of total AUM), while €254m was invested in Fintech (2.780% of total AUM), €722.1m in Shipping (7.901% of total AUM) and €85.9m in Sustainable Investments (0.940% of total AUM).

The Quarterly Statistics Bulletin is available here.