Question: What key areas of opportunity or growth do you see in your sector, and what are your expectations for Cyprus in 2020?

The financial environment worldwide, but also in Cyprus is characterized by very low, or even negative interest rates. Some banks internationally, are thinking to impose fees for holding clients’ money. In that context the traditional financial products are probably less appealing to investors.

In that respect UCITS mutual funds are probably one suitable solution for retail, non-sophisticated investors.

In general, some of the key advantages of UCITS funds are listed below

• Relatively lower risk due to high investments diversification
• Professional management
• Lower costs than other investments
• Low initial amount requested

Cyprus has modernized its regulatory environment which is fully up-to-date and in line with EU standards. We feel that UCITS is now a mature product in Cyprus and investors have to choose among a considerable number of management companies and mutual funds.

We believe that 2020 can be a year of growth for UCITS mutual funds. We expect investors to embrace this product and enjoy the benefits of it.

The year before, 2019, was very good for mutual funds. The majority of the UCITS fund managed by our company, GMM Global Money Managers Ltd. recorded considerably good returns last year.

We think that there is big potential for UCITS in the coming year.