N° 85 / AUGUST 2022

Results of the 31st General Meeting – 2022

The results

The 31st Ordinary General Meeting was held virtually from 13 to 24 June. Throughout this period you were able to vote thanks to our new module accessible directly from your area. With easier access to voting, 27% more of you expressed your opinion than last year. Thank you for participating.

All resolutions were approved and here are the members who were elected to the Board of Directors (in alphabetical order): Mr Daniel Henquet, Ms Adrienne Hervé, Mr Nicolas Salomon, Ms Rita Umeh Okoyeocha. Congratulations to the newly elected or re-elected members!

Saturday 25 June

The Chairman of the Board of Directors, Mr Stéphane Argyropoulos, invited the members to participate in the presentation of the results of the General Meeting. This meeting was an opportunity to warmly thank Mr. Muammer Kardelen for his work and competence in the service of our members.  On behalf of the Grand Duke, he was appointed Knight of the Grand Ducal Order of the Oak Crown. This honorary title rewards 43 years of service to financial institutions in the Grand Duchy of Luxembourg, including 12 years as Managing Director of AMFIE.

Even though he is at an age where he can look forward to a well-deserved retirement, Mr Kardelen is continuing his adventure with AMFIE as Chief Investment Officer. He will continue to manage your assets with talent and rigour.

Nicolas Horlait, who joined us in 2015 as Operations Manager, naturally takes over the responsibilities of Managing Director. To manage AMFIE, he will be accompanied by Giancarlo Danieli, Head of Development, with whom he shares executive responsibility.

Online voting for the 2022 General meeting

To facilitate the exchange of ordinary shares between members, AMFIE organises a session for the purchase and sale of ordinary shares.

These sales are organised to enable members who so wish to buy shares in AMFIE's capital at a price set by the Board of Directors.

The sale is organised in October and potential buyers will make known, via or by mail, the number of shares they wish to acquire at a price of € 161.43 per share (before 3 October 2022).

  All information related to the purchase or sale of shares

Capital increase

The General Meeting having approved the principle of a capital increase subject to conditions, here is the simplified process of the sale/purchase operation if the demand for shares exceeds the available shares:

  • 4 October: determination of the excess demand within the limit of €200,000 or 1,240 ordinary shares
  • 4-7 October: communication of the number of eligible shares for each shareholder holding more than 66 ordinary shares (apart from those who have wished to sell shares) in order to maintain their participation in the capital
  • 11 October: response from members on the acquisition of their entire share of eligible shares - the absence of a response being deemed a refusal
  • 14 October: the remaining shares available after exercising or not exercising the above right will be allocated according to the same rule as we apply for annual sales (bottom up)

How does a foreign exchange transaction work with AMFIE?

To guarantee you the best interbank rates, AMFIE chooses to apply the D+2 value date as is customary on the foreign exchange markets.  When we receive your instruction (before noon for an amount > €50,000 or currency equivalent, and until 3pm for an amount < €50,000 or currency equivalent), it is processed the same day, and you benefit from the exchange rate of the day. 

The computer system records the exchange transaction with the value date D+2 but makes it visible on your accounts from day D. If you have requested to execute the exchange from a savings account, the adjustment between the savings and current accounts will be done at value D and visible at D+2. 

New coordinators

Wellcome to Olivia Nadine Ndong Obiang

We are pleased to introduce you to your new coordinator at the African Development Bank (AfDB) Staff Council in Abidjan. As Secretary General of the SCO, Olivia will be able to assist our members and prospects with information, certify ID, and also facilitate the distribution of mail between AMFIE and AfDB members. Thank you Olivia and welcome to the team of coordinators!

Welcome to Haider Iqbal

Thank you to Haider for being our new coordinator for EMBL-EBI in Hinxton, Cambridge. He replaces Thomas Jüttemann who left the organisation in 2021, but is still present on campus. Members and prospects in Cambridge are lucky to have our two coordinators. Thank you.

Yields 3rd quarter 2022

The Board of Directors has decided to maintain the AMFIE yields for the 3rd quarter 2022.

Please find the returns on the Savings account, the term deposit AMFIE Flexible, and the Savings account 0-18 with the link below. You will also consult the AMFund past perfomances.

  See the yields

Find the NOTE of the portfolio manager Moventum
on the performance of the AMFund portfolios in the 2nd quarter of 2022.

For more information on AMFunds, our team is at your disposal at the usual address or by telephone on +352 42 36 611.

  See the Note from Moventum


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