By the time you read this letter, Christmas decorations will be all over the place and you will start wondering if early December is yet an appropriate time to start to dress up your home in Christmas colors… The same for your end of year investments; will continue to grow or is it too late to enter in financial markets?

For those who contemplate such initiatives, you will find in our letter the basics on equity investment – for those who still struggle to find the right algorithm compilation between trade policy (US - China driven) and monetary policies (FED and ECB) to foresee whether we are facing recession, artificial and/or sustainable growth, and the others (the vast majority?) who are still trying to figure out why university and PhD fundamental financial education prove so wrong today, we can only advise to keep on focussing on capital preservation. Fortunate AMFIE members!
We outlined in this edition the 0-18 saving accounts ; the ultimate 3 in 1 saving solution, preservation, high return and… Christmas giving!

As promised, you will read hereunder the snapshots of this year’s survey, which is very encouraging and leaves room for improvement too. I would like to thank you all for your participation which helps us stay close to your needs and preoccupations.

Jingle Bells to all

Stéphane Argyropoulos
President of the Board of Directors

The sale of ordinary shares took place on October 15 and was a big success.

Six members wanted to sell a total of 3,322 shares and 80 members wanted to buy a total number of 4,352 ordinary shares. All shares were sold, but all buyers could not be satisfied, as demand surpassed supply by a total of 1,030 shares.

Many of the members who were requesting shares were doing so for the first time, which is a sign of trust in our Association. Shares were exchanged at the price of 96.40€.

Thank you for your loyalty: we exceeded the threshold of 1000 followers on our AMFIE LinkedIn page, which is a great achievement. Our LinkedIn page contains information about our activities, travel, news, as well as other hot topics that concern employees of intergovernmental organizations. LinkedIn impressions show the number of times that posts had been seen by network members. Over a period of 30 days between September and October our LinkedIn posts were seen by over 25,000 network members.

If you have not yet “Followed” our page, do not hesitate to do so to be more connected to your association : https://www.linkedin.com/company/15077238/

We thank our 700 members who kindly responded to our survey last April. The purpose of this first survey was to better understand your needs and to know how AMFIE could respond to them. Here is a presentation of the results and the lessons we learned from it.

In January 2018, AMFIE launched the 0-18 savings account dedicated to children. Funds placed on the account are blocked until the beneficial owner turns 18.

Following a change of internal policy, ING BANK N.V., Milan Branch (Italy) has informed us that our account with them will be closed from Mid-December - IT55 Z034 7501 6010 0005 2092 410.

The Banque Internationale à Luxembourg (BIL) has informed us that in January 2020, they will replace their MasterCards with VISA cards.

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.

We welcome Miguel Figuerola for Alicante and Latin America. You can follow him on LinkedIn https://www.linkedin.com/in/miguel-i-figuerola-4826301/

We also inform you that Marta Artero is leaving Rome to join the International Civil Aviation Organisation in Montreal. We wish her success in this new adventure.

Despite the steady decline in Bond Rate Yields. the Board of Directors has decided to maintain the AMFIE yields unchanged for the 4th quarter.

Greece, United-States, Switzerlands, we keep on following our Globettrotters.