Cash held by inv. funds half in 2 years

Financial Mirror (Cyprus) - - FRONT PAGE -

Loans and de­posits held by 83 in­vest­ment funds in Cyprus dropped to EUR 247.3 mln in De­cem­ber, down EUR 339 mln year-onyear and less then half of EUR 511.8 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 EUR 2.55 bln at the end of De­cem­ber 2014 com­pared to EUR 2.17 bln in De­cem­ber 2013. At the end of Septem­ber 2014 the to­tal as­sets of in­vest­ment funds amounted to EUR 2.90 bln.

To­tal as­sets of the open-end funds fell in late De­cem­ber 2014 to EUR 1.984 bln from EUR 2.105 bln in De­cem­ber 2013, while the as­sets of closed-end funds de­clined in De­cem­ber 2014 to EUR 566.8 mln from EUR 611.9 mln in De­cem­ber 2013.

To­tal eq­uity held by the in­vest­ment funds in De­cem­ber 2014 dropped to EUR 1.866 bln from EUR 2.062 bln last year, while bonds rose to EUR 20.3 mln from EUR 6.2 mln the pre­vi­ous year. Mixed in­vest­ment funds as­sets rose to EUR 397 mln com­pared to EUR 373 mln the pre­vi­ous year. Funds that in­vest in real es­tate had as­sets of EUR 157.3 mln in De­cem­ber 2014 com­pared to EUR 170.4 mln in the same pe­riod of 2013.

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