Luxembourg CFA Society a.s.b.l.

Transcription

1 Dear member, We cordially invite you to the General Assembly of the a.s.b.l. and Presentation of Private equity: where do we stand in the post Lehman world? Monday, April 27 th, 2009 at 18:30 Hotel Sofitel, Kirchberg Room Jacinthe 2008 has been another successful year for our Society. We are now 159 active members in the Society s sixth year of existence, and a series of interesting events have been organised. Our chairs have been active in promoting the CFA Institute s mission in the Luxembourg market. Please refer to the Annual Report for the year 2009 (available on our website for a detailed review of activity during the year. The Annual Report includes the agenda of the General Assembly, including the items on which member vote is required. Apart from the approval of the Society s finances, the Board positions are due to be elected or re-elected, respectively. As a tradition, a social event will follow the AGM. Yves Courtois, CFA, will discuss the new environment for the private equity. Please refer to the Annual Report for information on the speaker profile. The presentation will be followed by a cocktail, during which we hope to actively exchange views with you regarding the CFA Program and the Society s activities. If you would like to attend the General Assembly, please register until April 24 th by contact@cfa.lu. In any case, and irrespective of your personal attendance of the General Assembly, please return the attached proxy form duly signed and dated as soon as possible, but no later than April 24 th to Mrs. Birthe Bruhn-Léon, fax no. (+352) , or indicate your acceptance (or your vote otherwise) on all agenda points by simple to contact@cfa.lu. Thank you very much for your support. We look forward to seeing you. Yours sincerely, Léon Kirch President Association sans but lucrative Registered Office: 14a, rue Paul Eyschen, L-7317 Steinsel; Postal Address: BP 93, L-2010 Luxembourg

2 PROXY I, herewith give irrevocably proxy to represent myself at the General Assembly of The Luxembourg CFA Society a.s.b.l. to be held on April 27 th, 2009, 18:30h, at the Hotel Sofitel, Kirchberg, according to the following instructions (option 1 or option 2): 1- Detailed decision: Agenda Accept Reject Abstain point 4.1, Approval of the minutes of the 2007 meeting point 4.2, Annual report point 4.3, Exoneration of the board point 4.4, Election of the Board of Directors Mr. Léon Kirch, CFA for President Mr. Knut Reinertz, CFA for Vice-President Mr. Philippe Bernard, CFA for Vice-President Mr. Miro Zivkovic for Vice-President Mrs. Birthe Bruhn-Léon, CFA for Director Mr. Frank Lee, CFA for Director Mr. Yohann Adolphe, CFA for Director Ms. Sandra Bussotto, CFA for Director Mr. Matteo Candolfini, CFA for Director Mr. Marc Fohr, CFA for Director Mr. Antonio Grieco, CFA for Director Mr. Arndt Nicolaus, CFA for Director Mr. José Luis Velasco, CFA for Director 2- Overall decision: OR Accept Reject Abstain All-in one vote for the above agenda items Place & Date Member signature Member name (PRINT) Please note: Member is encouraged to vote with the above proxy even if he/she is planning to attend the Annual Meeting in Person. Please fill in proxy form or confirm vote by until April 24 th, 2009 to Mrs. Bruhn-Léon, CFA, Fax: ; contact@cfa.lu. Association sans but lucrative Registered Office: 14a, rue Paul Eyschen, L-7317 Steinsel; Postal Address: BP 93, L-2010 Luxembourg

3 MINUTES OF THE ANNUAL GENERAL MEETING HELD ON 17 JUNE 2008 Board of Directors Present: Léon Kirch, Knut Reinertz, Birthe Bruhn-Léon, Arndt Nicolaus, Marc Fohr, Antonio Grieco. Arriving later: Philippe Bernard Excused: Yohann Adolphe, Frank Lee Members Present: See attached list AGENDA I. President s address...1 II. Approval of the minutes of the 2005 Annual Meeting...1 III. Annual report...1 IV. Exoneration of the Board...2 V. Election of the Board of Directors...2 VI. Questions and comments from Members...2 VII. Presentation of the Asset Management Working Group...3 VIII. Follow-Up...3 I. President s address The President opened the meeting with a short review of the Society s activities during 2007 and gave an outlook on the agenda of the evening. Based on proxy voting prior to the AGM and the members present, he noted that there was a quorum. II. Approval of the minutes of the 2005 Annual Meeting The minutes of the 2006 Annual Meeting were approved. III. Annual report The President commented the annual report, including presentation of the two new proposed Board members with their CV abstract. He explained the characteristics of the Society s P&L and Balance Sheet, reflecting the steady income stream from members fees, which in light of the mostly autonomously financed events, leads to an increasing strengthening of the equity base. The Society has not established specific spending rules on surpluses generated, but considers the growing equity base as a

4 healthy cushion to support the Society s future activities and protect its position. Since members fees continue to be denominated in USD, while the Society s expenses are in Euro, there is an unhedged exposure to FX risk. The auditor had approved the accounts without qualifications. He has been confirmed as auditor for the annual report The annual report was approved. IV. Exoneration of the Board The Board was exonerated. V. Election of the Board of Directors The mandate of the prior Directors Olivier Kalpers and Vincent Hannecart were not proposed for renewal. The following Directors were elected for a new term: Name Position New / Renewal term Period (years) Yohann Adolphe Director Renewal 1 Sandra Bussotto Director New 1 Antonio Grieco Director Renewal 1 Marc Fohr Director Renewal 1 Arndt Nicolaus Director Renewal 1 José Luis Velasco Director New 1 VI. Questions and comments from Members Some of the Board s activities during the past year were explained in more detail, e.g. the start of the exam prep courses in collaboration with Stalla, and the project to initiate, in the frame of the CFA Institute initative, a collaboration with Luxembourg university. An active discussion followed around different aspects of the Society s activities and members involvement. In that context, the President also provided transparency on the practice of selecting new board members, being essentially a natural progression, after some time, of members who have decided to become more active in the Society. A suggestion was raised by a member to possibly consider a mentoring program, by which more seasoned investment professionals and CFA charterholders would be available to serve as coach or sounding board for younger fellows/cfa candidates.

5 Another member enquired about the Society s activities/plans regarding the facilitation of recruitment and networking events. The Board made reference to the CFA Day in 2007, the regular invitation of HR representatives of members employers to certain events (e.g. Charter Award Ceremony), and the circulation of job ads received, mostly from the member community. An expansion of activity in this field was not planned, in order not to trespass the confines of the Society s mission. VII. Presentation of the Asset Management Working Group Following the AGM, Board member Marc Fohr presented the results of the Society s Asset Management Working Group. The Society will seek a suitable form of communication to the public of the WG s findings in order to extract maximum value for the Society s recognition. VIII. Follow-Up Following the AGM, the pertaining documentation regarding the changes in the Society s organs will be duly deposited with the Companies Register. Luxembourg, 18 June 2008 Annex: list of attendees

6 List of participants (in alphabetic order) MEMBERS Zipp Kiefer Harig Bon Renaud Candolfini Ciabuschi Fohr Held Szabo Nicolaus Grieco Bussotto Kirch Reinertz Bruhn-Léon Lang Lum Courtois Bernard Robert Georg Torsten Arnold Stéphanie Matteo Carlo Marco Bernhard Attila Arndt Antonio Sandra Léon Knut Birthe Kristin Samuel Yves Philippe NON-MEMBERS Trambev Flipo Yao Schoenmakers Toulmonde Sotir Antoine-Alexandre Jean Marie Thomas Bertrand