CYPRUS – Losses at Cyprus' €300m Hotel Employees Provident Fund will be limited to around 5% this year, as its diversified portfolio and good non-bank deposit returns cushions the impact of the country's bank bailout deal, the fund said. Read article here

The President of the Republic of Cyprus together with the House of Representatives have committed not to let the depositors of Provident Funds suffer losses.

The Core strategy used by Hotel Employees Provident Fund has always been characterized by Portfolio Investment diversification . In our Portfolio allocation, the category “Deposits” today amounts to 80 million, covering 28% of total Portfolio worth, which now totals approximately to 278 million.  We are expecting, with recent Eurogroup’s decision to loose 10% of “Deposits” total, but at the same time we anticipate that the interest that we will earn from the same deposits will come to diminish this loss.