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HOTEL INDUSTRY EMPLOYEES PROVIDENT FUND

To be proud of our service by providing confidence for the future. 

The Hotel Employees Provident Fund constitutes one of the largest pension organizations operating in Cyprus in respect of the number of its members (13,473) and also the greatest Fund of the private sector based on its portfolio value.
The contributions of the Members are credited to the Account A of the Fund while the contributions of the employer are credited to the Account B. The total value of the Fund Portfolio came up to EUR €259,047,306 on the 31st December 2009. The annual inflows in respect of contributions made by both members and employer come up to approximately €19,6 millions per year. Read more…

  

ΚΕΦΑΛΑΙΑ ΚΑΙ ΑΠΟΔΟΣΕΙΣ   

 

 

Total Capital and Investment Returns

Year

Capital EUR

Return

1996

92.696.817 

6,95%

1997

105.791.053 

6,61%

1998

116.120.983 

6,56%

1999

146.082.344 

18,87%

2000

149.658.439 

0,00%

2001

162.906.833 

4,00%

2002

175.544.974 

4,96%

2003

188.650.483 

5,05%

2004

200.233.395 

4,48%

2005

213.704.860 

5,69%

2006

237.173.285 

8,52%

2007

256.664.991 

6,67%

2008

247.557.824 

-1,85%

2009

259.047.306 

6,55%

Average Return

5,99%


Provident Fund History   

Announcements

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When you have a single currency, then everything must be single 12/12/2011
In order for the euro to remain the single currency for the countries belonging to the Eurozone, radical changes must be made to the European Union. It has been proven beyond any doubt that when you have a single currency, then everything must be single. If the European Union does not become “the United States of Europe”, if it does not adopt a single foreign policy, a single economic policy, a single monetary policy, then it is very difficult to keep the single currency and that is...
IPE Awards: Best Pension in a Small Country for a third year in a roll 11/25/2011
We are delighted to announce that at the eleven annual IPE European Pension Fund Awards held in Brussels on November 17, the Hotel Employees Pension Fund won the IPE Country Award for Best Pension Fund from a Smaller European Country 2011. This is the third time this award for pension funds in European countries with populations of under 1m was presented.
Decrease on Equities Portfolio 11/21/2011
The Management Board of the Fund has decided to decrease the Equity exposure of the Fund from 15% to 10%, in addition at the base of the monitoring of the equity managers has added Veritas to their managers from the global unconstrained equity investment.
Adding new categories to the portfolio of the Fund 11/16/2011
The Hotel Employees Provident Fund of Cyprus, in accordance with the best governance practices and to improve diversification of the Fund, has announced that, with the advice of their consultants and after undergoing rigorous training, it will invest part of the Fund's assets in alternative investments namely Fund of Hedge Funds (with absolute return target) and Infrastructure Fund....
Annual General Meeting, 26 May 2011, Sandy Beach Hotel, Larnaca 4/19/2011
We are informing you that Hotel Employees Provident Fund, Annual General Meeting will take place in Sandy Beach Hotel in Larnaca, on Thursday May 26 2011 at 10:30am.
3,13% Return in 2010 4/19/2011
The Management Committee after studying the final results of the Fund for the year 2010 and after the information received by the Final Accounts Consulting Committee, have unanimously approved the final accounts for the 31/12/2010. The earnings in favor of the members of the Fund for the 2010 were positive and come up to €7.921.961 which in terms of performance is 3,13%. Specifically, the return on the deposits were 4,13%, return on bonds 2,37%, on Equities 5,05%, real estate and rend...
BlackRock Fixed Income Market, World Bond Fund – Review of 2010 28/3/2011
Market Background 2010 was a volatile year, and an interesting one for bond markets. Investors grappled with emerging market monetary tightening, inflationary uncertainties, a slate of European sovereign debt crises and a second round of quantitative easing deployed by the US Federal Reserve (the Fed).
Edinburgh Partners 3/28/2011
For some time there has been a clear difference in the trend of economic growth between developed and developing markets. In the developed world we see economies where government finances have taken the strain of sustaining growth. In contrast, in the developing economies we see both trade and fiscal surpluses supported by a financial system which has largely avoided the worst excesses of the West.
Schroder Investment Management 3/28/2011
Global markets in 2010 A late equity market flurry capped a year characterised by marked swings in sentiment, as investors digested economic data releases and assessed the severity of the sovereign debt crises in Europe. The influence of macro-economic themes was manifested in the relatively high level of correlation between individual stock performance and the, often significant, rotation in the performance of cyclical and defensive sectors depending upon market direction.
Annual General Meeting, 19th May 2010, Amathus Beach Hotel in Limassol 5/3/2010
Kindly be informed that the Annual General Meeting of the Hotel Employees Provident Fund will be held at the Amathus Beach Hotel in Limassol on Wednesday, the 19th May 2010, at 10h30 a.m.
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 Equities                +5,09% 
 Fixed Income       +2,37%
 Deposits +4,09%
 Real Estate +2,61%
 Loans to members +2,33%
 Expences -0,23%
 Total +3,13%
 Returns for 2010

TV   

RIK1 Interviews of Mr. Marinos Gialeli

09/02/2008 - Τileikonomia

26/09/2008 - Τileikonomia


Applications   

Withdrawal of Contributions 
 Withdrawal Application   


Loans
 
Loan Application 
 Statement & Authorization 
  Loan Agreement 

Members
 
Personal Data of Members 

 


loan interest rate   

The interest rate for
members loans today is 4,00%

Historical interest rate

From 1/10/2009 to present is 4,00%
From 13/05/2009 to 30/09/2009 was 2,00%
From 8/04/2009 to 12/05/2009 was 2,25%
From 11/03/2009 to 7/04/2009 was 2,50%
From 21/01/2009 to 10/03/2009 was 3,00%
From 10/12/2008 to 20/01/2009 was 3,50%
 

Report   

 Annual Report 2008
 Annual Report 2007
 Articles of Association 
 146(Ι) of 2006 Vs 
    44 of 1981 until 2005


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