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CYPRUS: Cash held by investment funds half in 2 years.

Loans and deposits held by 83 investment funds in Cyprus dropped to e1/4247.3 mln in December, down e1/4339 mln year-on-year and less then half of e1/4511.8 mln in March 2013 when the Eurogroup imposed a bailout programme and forced the bail-in of depositors at the two systemic banks.

The drop was the lowest level since 2008 when the Central Bank of Cyprus started monitoring the approved investment funds.

In its quarterly Investment Fund Statistics, the Central Bank said that total assets held by the investment funds stood at e1/42.55 bln at the end of December 2014 compared to e1/42.17 bln in December 2013. At the end of September 2014 the total assets of investment funds amounted to e1/42.90 bln.

Total assets of the open-end funds fell in late December 2014 to e1/41.984 bln from e1/42.105 bln in December 2013, while the assets of closed-end funds declined in December 2014 to e1/4566.8 mln from e1/4611.9 mln in December 2013.

Total equity held by the investment funds in December 2014 dropped to e1/41.866 bln from e1/42.062 bln last year, while bonds rose to e1/420.3 mln from e1/46.2 mln the previous year.

Mixed investment funds assets rose to e1/4397 mln compared to e1/4373 mln the previous year. Funds that invest in real estate had assets of e1/4157.3 mln in December 2014 compared to e1/4170.4 mln in the same period of 2013. Other investment funds had total assets of e1/4110 mln in December 2014 compared to e1/4104.8 mln in the year-earlier month.

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Publication:Financial Mirror (Cyprus)
Geographic Code:4EXCY
Date:Feb 20, 2015
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