FINANCIAL COOPERATIVE ASSOCIATION OF INTERNATIONAL CIVIL SERVANTS
N° 84 / MAY 2022
Dear AMFIE members
We are in the last straight before the online General Meeting which will bring us all together in the green heart of Luxembourg on 25 June. Whilst we patiently await you, here is some information you may find useful over the coming weeks. First, changes in our internal organisation underlining the maturity that AMFIE has now attained and our ambitions for the future; secondly simplification of the online voting procedure at general meetings this year and henceforth, and lastly, the imminent finalisation of our property investment in the centre of Luxembourg.
Muammer Kardelen, our muchloved managing director, is currently responsible inter alia for in-house administration, regulatory compliance and treasury oversight. He has expressed his wish to hand over his management duties to concentrate on the management of your assets and his family, and we thank his wife Sevim who has shared her husband with us for the last twelve years of challenges.
Since 2010 Muammer had striven to shape and develop the AMFIE you know today. Since his arrival he has understood how to bring fully on board the new members of the team, from Nicolas Horlait to Giancarlo Danieli, thus helping create a sound structure sharing the values of our association. As a natural consequence of this, Nicolas Horlait will become managing director of AMFIE with effect from 1 July 2022, and Muammer's previous responsibilities for Prospection, Marketing and Development have been entrusted to Giancarlo Danieli who has been Director of Development since 1 January 2022. Muammer will continue to work for AMFIE as Chief Investment Officer reporting to the Board, where he will remain a Director alongside Nicolas and Giancarlo.
We shall thus retain the best of Muammer who after 43 years of hard work in Luxembourg remains alert, curious and perspicacious in financial matters. Thank you, Muammer, for the six years we spent together, and may there be many more as life-enhancing and fruitful for AMFIE, for our members, and for me personally. Happy reading! Stéphane Argyropoulos President of the Board of Directors
President of the Board of Directors
A new investment in AMFIE's Portfolio
Keys handed over for the Op der Plak residence.
On 31 May AMFIE will be handed the keys for the sparkling new Op der Plak residence and the first tenants will be able to move into their apartments.
The residence is a high quality building in Luxembourg City, and has been entirely renovated. It comprises nine apartments ranging between 50 and 130 sq. metres with garden, carparking, cellars and lifts, and includes wheelchair access. Totalling 836 sq. metres, the property entered AMFIE's portfolio in March 2020, the result of an investment of around 10 million euros.
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 www.amfie.org/en/amfie-academy .
In this edition, we will review structured products.Read the article
L’AMFIE, out and meeting you again
It is with undisguised pleasure that AMFIE's representatives took part in the 75th FICSA Council, held in Vienna as a face-to-face meeting. Janine Rivals and Svend Booth were able to meet members at the VIC from 25 to 29 April. They also presented AMFIE's services to IAEA staff on 28 April, when OTICE and UNIDO staff were also able to attend.
What a great pleasure it was for Svend and I to meet with so many friends in Vienna for the 75th Anniversary of FICSA! Covid or no Covid, there was a general hugging and kissing with all the old friends and the pleasure of meeting a great number of newly elected representatives of staff associations coming from many IGOs from all over the world`!
Let's not forget that our late friend Pierre Henquet, one of the founding members of AMFIE, was also one of the founding members of FICSA!
It is also worth while noting that during the ceremony of the 75th Anniversary, our dear Svend was solemnly celebrated for his 25 years of service to the Federation! And since I was, by far, the most senior member present, I was, affectionately, "seated" by the members of the ExCom for the ceremony!
The IAEA Staff Association's welcome and the organisation of debates, and of our presentations, was perfect.
To sum it up, a whole week of meetings and friendship with delegates and AMFIE members and prospects: a real delight!