MorningStar the financial services firm, has responded positively to CIFA efforts for the upgrade of investment funds based in Cyprus to Grade 2. MorningStar has requested the commitment of CIFA in facilitating for the delivery of the required data from investment fund managers, and in turn the commitment of those managers in timely submitting the data.

At the moment investment funds based in Cyprus are Grade 3, thus not rated and not visible on the MorningStar platform. The upgrade to Grade 2 will allow for the investment funds to become visible and rated to all investors. The Morningstar Rating is a measure of a fund's risk-adjusted return, relative to similar funds. Funds are rated from 1 to 5 stars, with the best performers receiving 5 stars and the worst performers receiving a single star.

This development will enhance the visibility of the investment funds, CIFA, the Cyprus jurisdiction and CySEC as a regulator. Furthermore, it is expected to simplify the due diligence performed by institutions considering investments and bank transfers into investment funds in Cyprus. Equally important, investment fund jurisdictions much larger than Cyprus, have yet to achieve Grade 2.

If you are interested in finding out more, please contact us on [email protected]. Our Investment funds team at futuready is standing by and looks forward to being of value.

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