Hotel Employees Provident fund

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IPE Awards 2009

11/21/2009

Hotel Employees Pension Fund wins the IPE Award Best Pension Fund from a Smaller European Country 2009 and second place for the Best European Industry-Wide Pension Fund. We are delighted to announce that at the ninth annual IPE European Pension Fund Awards held in Dublin on November 18, the Hotel Employees Pension Fund won the IPE Country Award for Best Pension Fund from a Smaller European Country 2009. This is the first time this award for pension funds in European countries with...

Set of the instalment for the loans of members	09/28/2009
The Management Committee of the Fund in a meeting held on the 16th September 2009, has decided that for facilitating the members to calculate their instalments, even before making the loan, the instalment shall be €10 for each €1.000 borrowed. For instance, if a person makes a loan amounting to €5.000, his monthly instalment shall be €50 ( €10 x 5).

New procedure for the issue of loans to members.	28/09/2009
As regards to the above matter, we have contacted you on the 03 September 2009 through an announcement posted on the website of the Fund with title “Rate of interest on the loans of members” with which we explain the reasons and how the loans provided by the Provident Fund shall be carried out as from the 1st October 2009 and onwards.

Interest rate on the loans of members	03/09/2009
The Management Committee of the Fund in a meeting held on the 29th July 2009 decided to increase the margin of the new loans to be provided to the members of the Fund as of the 1st October 2009, so as to comply with the legislation.

-1.85% Return for 2008	07/05/2009
The Management Committee after studying the final results of the Fund for the year 2008 and after the information received by the Final Accounts Consulting Committee, have unanimously approved the final accounts for the 31/12/2008. The earnings in favour of the members of the Fund for the 2008 were negative and come up - €4.580.362 which in terms of performance is – 1,85%.

President speech for the activities of 2008	05/05/2009
Dear guests, Dear members, On behalf of the Management Committee of the Fund, we welcome you to the 41st Annual General Meeting of the Hotel Employees Provident Fund. I sincerely thank you for honouring us with your presence today and for giving us this opportunity to present to you the activities and work of the Fund for the year which expired on the 31st December 2008.

Management of the Pension Funds of the Second Pillar	03/11/2008
The management Committees of the Provident and Pension Funds should have as main concern to draw up and implement an Investment Strategy to contain specific targets which will yield the desirable results on a long term basis.

Extraordinary General Meeting of the Members of the Fund to be held at “Xenios” building in Nicosia, on Tuesday , the 4th November at 10h00 am	22/10/2008
As all the Provident Funds in Cyprus must be registered immediately to the Register of the Supervisory Authority of Occupational Pension Funds (Competent Authority) according to Law 146(I)/2006, the Competent Authority has demanded from the Hotel Employees Provident Fund (The Fund) to amend as soon as possible certain Regulations of its Articles of Association so as to comply with the new Law.

Influences on the Provident and Pension Funds by the economic developments.	27/09/2008
The Hotel Employee Provident Fund with correct and prudent management has applied an investment strategy, and with the assistance of an independent investment consultant has selected with transparency the asset managers for both the local share market (that is the 5% of its portfolio) and the global share and bond markets (that is 10% respectively of its portfolio).

Regarding the global crises	19/09/2008
The Hotel Employees Provident Fund announces that it DOES NOT hold, neither has ever bought any products from Lehman Brothers or from any other brokerage company which has been dissolved. Further, the Fund announces that it has never bought any “Capital Guarantee Products”.

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