Total assets of investment funds in Cyprus increased almost by a billion in June 2023 compared to December 2022.

According to data released on Thursday by the Central Bank of Cyprus (CBC), the number of investment funds increased to 307 in June 2023, from 286 in December 2022 and 290 in March 2023.

The total assets of these funds increased to €8.685 billion in June 2023, compared to €7.757 billion in December 2022 and €8.303 billion in March 2023, recording an increase of 11.6% for the first six months of 2023 and 4.6%,compared to the previous quarter.

The increase was mainly due to the value of the shares that the investment funds had in their assets, which amounted to €6.7 billion in June '23, compared to €6.48 billion in March and €5.98 billion in December 2022.

At the end of June shares corresponded to 77% of the total assets of investment funds.