The Cyprus Investment Funds Association (CIFA) held its Athens roadshow this week, with primary focus revolving around the prospects Cyprus offers in the field of investment funds.
The event was held on October 22 under the auspices of the Hellenic Fund and Asset Management Association.
According to the association, it aimed to inform Greek fund managers about the opportunities, regulatory advantages, and tax benefits of establishing and managing alternative investment funds in Cyprus.
Additionally, CIFA said that the conference included discussions on the latest developments in the investment fund sector.
It added that “views were exchanged, laying the groundwork for future beneficial collaborations”.
Among others, the president of the Cyprus Securities and Exchange Commission, George Theocharides, and the president of the Hellenic Capital Markets Commission, Vasiliki Lazarakou, shared their views with the attendees.
In her opening remarks, CIFA president Maria Panayiotou stated that “Cyprus is the choice of many investors and fund managers as a base, due to the multiple benefits it offers, regardless of where the investments are located”.
“Over the past few years, we have managed to be internationally recognised as a dynamic destination for investment funds and fund managers,” Panayiotou said.
“Starting literally from scratch about ten years ago, today we have more than 330 licensed entities, most of them investment funds, managing assets of over €9 billion,” she added.
Moreover, the CIFA president explained that “Cyprus has more than 60 double taxation agreements, and even today, with the dramatic geopolitical developments in our region, its geographical location continues to radiate stability”.
Meanwhile, Chris Aesopos, president of the Hellenic Fund and Asset Management Association, used his speech to highlight Cyprus’ growing prominence as a destination for investment funds.
In his own welcome address, the ambassador of the Republic of Cyprus in Athens, Stavros Avgoustides, stated that “there has been a continuously increasing influx of fund managers, international investment funds, and similar supporting organisations into Cyprus from various geographical regions, essentially recognising the advantages of our country in this sector”.
The event also featured remarks from Theoni Alampasis, Secretary General for the Financial Sector and Private Debt Management at the Ministry of Economy and Finance.
“CIFA’s goal is to strengthen Cyprus’ position as an international fund management centre,” the association said in a statement.
“Through continuous efforts in recent years, it has become possible to create an investor-friendly environment, both in terms of legislation and infrastructure,” it added.
“CIFA’s commitment is to continue promoting Cyprus as a centre of excellence in the investment funds sector, further enhancing strategic partnerships like the one with the Hellenic Fund and Asset Management Association,” the statement concluded.
