Cyprus Fund Industry Association
Τhe Cyprus Fund Industry Association is Cyprus Investment Fund Association (CIFA).
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. The reason for the establishment of the association was to support investors and asset managers in setting up and structuring funds in Cyprus, with the intention and desire 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 has a strong working correlation with Cyprus Investment Promotion Agency (CIPA), Invest Cyprus, which first took the initiative of establishment of CIFA as a natural development of the achievement made until now in advertising Cyprus as a competitive investment fund jurisdiction. In expanding its local network, CIFA has set up strong collaboration with the regulatory authorities concerned, the Ministry of Finance, along with the related industry associations and professional associations.
An important landmark for CIFA was in 2016, when it became a full member of the European Fund and Asset Management Association (EFAMA), in which CIFA was actively participated in the Board of Director's meetings and hosted the 2018 AGM of EFAMA in Cyprus. In 2016, CIFA became an Associate Member of the International Capital Markets Association (ICMA) and signed a Memorandum of Understanding (MoU) with the Chartered Institute for Securities and Investment (CISI) in 2017. For the expansion of the Investment Funds Industry in Cyprus, CIFA also established a strategic relationship with Thomas Reuters. The joint efforts of CySEC, the Ministry of Finance of Cyprus, Invest Cyprus and CIFA resulted to modernisation of the regulatory framework governing collective investment schemes, upgrading Cyprus to one of the most beneficial and flexible destinations for setting up or relocating investment funds and fund managers.
CIFA focuses on improving the high level of sophistication of the Investments Funds Industry and serves the broad range of needs and issues faced by service providers and businesses engaged in the sector. The Mission of CIFA is to help its members capitalize on industry trends, shape regulation, enhance professionalism, integrity and quality and promote the Cyprus Investments Fund Industry.
In carrying out its mission, CIFA has set up 13 Technical Committees consisting of experienced professionals in the industry, which will follow proper developments at local and international level, discuss and analyse implications, challenges and opportunities and recommend best policy options and course of action that will allow Cyprus to remain at the forefront of related issues internationally, while constantly growing, developing and updating its product to satisfy the needs of the market.
Our Chairman Mr. Michael Ioannides is the president of the Legal Committee of the Association, our Managing Director Mrs. Maria Panayiotou is the General Secretary of the Association and one of our Directors Mr. Alexios Kartalis is the president of the UCITS Committee of the Association.
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