N° 81 / SEPTEMBER 2021


Dear Members,

After a well-deserved break from a "roaring" year it is time for some of you to get back to work (home or office…) hence some reminder of your Association past and future events.

Our June 25th Assemblies have drawn votes from approximately 600 members, slightly more than last year's attendance (562), well done! You will find hereunder more information.

All resolutions were adopted but one was missing from the list: the possibility for AMFIE to issue more shares for October's sale. The Board of directors failed to find a simple and hassle-free solution and we will have to carry on with holding annual Extraordinary Meetings to issue shares in order to meet the excess demand. We will be happy to do so if this year sales are still unbalanced, therefore don't forget to place your orders if you are interested!

Our coordinators met virtually after the Assemblies and, trust me, their cheerfulness wasn't virtual. We appreciatetheir motivation and ideas throughout the year.

Finally, you will definitely go back to school with the enlightening AMFIE Academy article on complex investment funds.

Get ready!

Stéphane Argyropoulos
President of the Board of Directors

Outcomes of the Annual and Extraordinary General Meetings

Our two General Meetings, Annual and Extraordinary, took place virtually over the period from 16 to 24 June. A total of 595 members registered, representing 58,834 votes. On 25 June the electoral bureau, comprising Mr Andrew Evans, member, Mr Etienne de Crépy, Attorney, Ms. Angeline Roger, Compliance Officer and Mr. Nicolas Horlait, Director of Operations, had sealed the ballot boxes and reported the results of the ballots.

  • In consequence, a dividend of one euro will be paid for each member share and ordinary share.
  • The following candidates were re-elected to the Board: Fabrice Andreone, Stéphane Argyropoulos, Paul Gervis and Xavier Roblin. At the Board meeting held on Friday 25 June the Bureau was elected as follows:

Chairman: Stéphane Argyropoulos
Vice-Chairman: Rita Umeh Okoyeocha
Secretary-General: Adrienne Hervé
Treasurer: Daniel Henquet
Administrators: Fabrice Andreone, Paul Gervis, Xavier Roblin, Samy Saad Zaghloul

  • All the proposed amendments to the Association's statutes were approved.

The minutes and the results of all votes may be consulted in the members' area of

All information related to Meetings

Sale of Shares

To facilitate trade in ordinary shares between members, AMFIE usually organises an annual session in October for the purchase and sale of ordinary shares.

With this Newsletter you will find a notice regarding the sale procedure. This year, shares will be traded at the price of €126.93 per share.

At the time of writing AMFIE holds 287 shares offered for sale. So that buyers and sellers may follow the sale as it progresses we shall publish the situation of offers to sell and to buy each Friday until 1 October.

You have until 4 October to advise the Association of your orders.

All information relating to the sale is available in the Members' area.


All information related to the purchase and sale of shares

Coordinators' meeting

The annual meeting of AMFIE's coordinators is traditionally held face-to-face in Luxembourg, the day before the Association's Annual General Meeting. The 2020 meeting could, unfortunately, not be held because of the pandemic. With the development of online meetings, we naturally suggested to the coordinators to meet over the internet. The 2021 online meeting was a great success, with a large number of participants around the world, from Canada to Asia via Africa. To meet at the same time, some needed to get up early; others to go to bed late. Our thanks go to all those who attended.

Getting together online will make it easier for us to meet, and to meet more frequently for training purposes and to keep us closer to our coordinator members.

Our thanks once again to all those who attended, for your interest and your unfailing cheerfulness.


The pandemic has changed the way individuals interact, and online meetings have replaced face-to-face. AMFIE has likewise had to adapt to this new form of meetings, and has been holding digital presentations for the staff of intergovernmental organisations.

The distances between us have narrowed, and the prospection team can now plan presentations in Azerbaijan and in Italy during the same week. This new form of interaction also allows us to change the language of the presentation at will. The ILO needed presentations in both French and English: that is no longer a problem for we can offer different dates for each language. The ILO also needed a presentation in Spanish, which we were able to provide thanks to Miguel Figuerola, an active member of our team, who can offer this alternative.

We have also noted that online presentations allow more people to participate. Average attendance has more than doubled compared with physical meetings, and is still rising. That is due not only to the medium of the presentation, but also to growing interest in our Association among our members and prospective members.

If you would like your colleagues to benefit from one of our presentations, please do not hesitate to contact a member of the presentation team, who will be delighted to organise the event.

Janine Rivals, Svend Booth, Miguel Figuerola, Julian Finn.


AMFIE Academy is a series of articles on basic themes concerning saving and investing. Past articles have focused on establishing your investor profile, determining the strategy that best corresponds to your investor profile and building a diversified portfolio. The entire series of articles is available on AMFIE’s website at .

In this edition, we will review complex investment funds.

Read more

Yields for 3rd Quarter 2021

The Board of Directors has decided to maintain the AMFIE yields for the 3rd quarter 2021.

Please find the returns on the Savings account, the term deposit AMFIE Flexible, and the Savings account 0-18 with the link below.

Read More

New coordinators

We are proud to welcome four new coordinators to the team. Our coordinators are volunteers who provide local support to AMFIE's existing and future members.

  • Samy Zaghloul, AMFIE board member, former executive director representiong the Egypt & Djibouti Group of the African Development Bank provides support from Cairo,
  • Jean-Marc Deroy, former AMFIE board member, former representative and Director of UNIDO, offers assistance in Vienna,
  • Jean-Baptiste Banzouzi-Mbika, FAO Deputy Representative in Congo, will provide support to members and prospective members in Brazzaville,
  • Alexander Gardiner is our new coordinator at the European Patent Office in Munich.

Our thanks to you all for your time and goodwill.

Samy Zaghloul

Jean-Marc Deroy

Jean-Baptiste Banzouzi-Mbika

Alexander Gardiner

AMFIE in the press

An article appeared in Paperjam, a Luxembourg financial and economics magazine, to mark AMFIE's 30th anniversary. Published in April, the article presents AMFIE and its services. 

You can read full article (in French)

To mark its launch Jiway, the firm which developed our new software, interviewed Muammer Kardelen to set out his views on the digital business transformation. This article was published in AGEFI Luxembourg, the country's leading financial journal.

Read the article (in French)

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