EU Level Legislation on ESG and Sustainable Financing The amended Benchmark Regulation (EU) 2019/2089 Entered into force in late 2019, the amended Benchmark Regulation established the EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-associated disclosures for benchmarks. These amendments aim to ensure that the labels ‘EU Climate Transition Benchmark’ and ‘EU Paris-aligned Benchmark’ are…
What is ESG Investing? Environmental Social Governance It is subjective and highly debatable what elements comprise environmental, social or governance factors, yet the investment community has coined the term as they generally acknowledged a broad definition of ESG Investing as non-financial dimensions of a security’s valuation, performance, and risk profile. Today, ESG is featured much…
The conditions and circumstances under which the disclosure of information about the Investors / Unitholders of a Cyprus Alternative Investment Fund (AIF) is obligatory. The Cyprus Security and Exchange Commission (CySEC) is the regulatory authority responsible under the Law for the licensing and supervision of Investment Funds for both Undertakings for Collective Investment in Transferable…
Professional Management – Transparency & Regulation – Passporting Rights Management of Alternative Investment Funds (AIFS) is defined as comprising at least the core activities of portfolio management and risk management. If permitted by its legal structure, an AIF can be internally managed, which means that the same entity is both the AIF and the AIFM.…
Alternative Investment Funds distinguish between open-ended and closed-ended type of Cyprus AIFs. The AIF Law 2018 distinguishes between open-ended and closed-ended type of Cyprus AIFs. Open-ended type: Unit-holders can redeem or repurchase their units upon request: at any time at regular intervals of less than 1 year, that are defined in the instruments of incorporation…
The conditions and circumstances under which the disclosure of information about the Investors/Unit-holders of a Cyprus Alternative Investment Fund (AIF) is obligatory. The Cyprus Security and Exchange Commission (CySEC) is the regulatory authority responsible under the Law for the licensing and supervision of Investment Funds for both Undertakings for Collective Investment in Transferable Securities (UCITS)…
Flexibility – Transparency – Tax Incentives – Cost Efficient – Regulation A Cyprus Alternative Investment Fund (AIF) is cost-efficient and simple to set-up, manage and operate. It offers a modern regulatory framework that is in line with relevant EU directives and it is supervised by a competent and accessible regulatory authority. Setting up an AIF…
Common Fund – Limited Partnership – Investment Company Cyprus Investment Fund may be established with limited or unlimited duration and can take the following legal structures: (a) investment company in the legal form of a limited liability company with fixed capital (FCIC); (b) investment company in the legal form of a limited liability company with…
The Alternative Investment Funds Law of 2018 provides for three types of investment funds in Cyprus. Alternative Investment Fund (AIF) An AIF is available to an unlimited number of investors, which can be promoted to any investor, encompassing retail investors. AIFs may be established as variable or fixed capital investment companies, common funds and limited…
Registered, Self-Regulated, Fast, Cost-effective. The new Alternative Investment Funds Law 2018 (“AIF Law 2018”), regulating AIFs in Cyprus, has introduced a new category of AIFs, the Registered AIFs (“RAIFs”). This has been a long-awaited development by the Cyprus Fund Industry, which significantly strengthens the country’s efforts of becoming a funds hub. A RAIF will be…