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

Happy reading!

Stéphane Argyropoulos
President of the Board of Directors

For Corporates as well as for people, time happens to fly too quickly. Thus here we are, my dear Muammer, facing the inevitable : your well deserved retirement after more than 12 years of hard work with AMFIE.

After seeing you act as an Executive, a Manager and a Negotiator, I kept the Chairmanship and handed over the general management to you in total confidence. You have shown unrivalled dedication to our Association and greatly contributed to its evolution to better serve our members. I trust that you will continue to make the difference for our cooperative in your “new functions”.

So, neither farewell, nor goodbye but a big thank you for yesterday, today and tomorrow.

Dimitri Argyropoulos
Honorary President