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FundCount Joins the Cyprus Investment Funds Association (CIFA)CIFA Membership will ensure that FundCount stays abreast of all developments in the Cyprus Fund Sector and provides the best support to our Cyprus clients on industry and regulatory development CHRIST CHURCH, Barbados, Nov. 10, 2022 /PRNewswire/ -- FundCount today announced its joining of the Cyprus Investment Funds Association (CIFA). CIFA is the fund industry's sole recognized body located in Cyprus. Cyprus is a member of the EU and its regulatory framework is fully aligned with all the EU directives and regulations. The Cyprus legal system is based on common law. The combination of the EU legal framework and common law system makes Cyprus a uniquely attractive jurisdiction for structuring and operating investment funds. FundCount's membership with CIFA will give it access to industry initiatives for regulatory, compliance, and development expansion of Cyprus as a fund jurisdiction. This access allows the firm to stay abreast of the top of regional regulatory issues and industry trends. "The (funds) sector in Cyprus has shown resilience and continued to grow at all levels: from improving the legislative and regulatory framework to attractig new collective investment organizations from different countries," says Andreas Athinodorou of ATG Funds, member of the board of CIFA. "Particular interest is observed in Alternative Investment Funds AIFs, whose net assets increased by 61.5% in 2021 and reached €11.1 billion in the first quarter of 2022." Joining CIFA at this time is particularly attractive given that the fund sector in Cyprus is growing as of late. ARAMCO of KSA has announced the launching of a Cyprus fund with a target AUM of US1.5b for investments in the shipping and ESG energy sectors. The Cyprus Investment Funds Association (CIFA) was established in February 2013 and registered as an Association in April of the same year under the Associations and Foundations Law of 1972, with the purpose and aspiration to become the collective voice and the reference point for all professionals and legal entities, offering services or engaged in the Investment Funds Industry in Cyprus. CIFA's Board of Directors is composed of highly reputable industry professionals experienced in all aspects of the industry, including fund management, advisory, banking, audit, and legal. Editor's Notes About FundCount Media Contact:
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