IR Policy

IR Policy


HFSF’s Investor Relations Policy describes the principles and procedures upon which HFSF will implement its Investor Relations Program.
The Policy is applicable to all HFSF employees and is supplementary to the HFSF’s Code of Conduct as well as to HFSF’s internal policies and procedures.
This Policy is subject to annual review and approval by HFSF’s Executive Board to ensure its effectiveness.

General Principles

HFSF’s Investor Relations Program is both of proactive and reactive nature and aims to provide transparent and consistent information to the investment community as well as to media organizations in an appropriate, timely and fair manner, and in accordance with existing regulations.
Meetings with Executive Board and senior personnel.
Generally, the main objective of engagement with investors is to explain HFSF’s operational strategy and answer questions on publicly available information. No confidential information shall be shared with market participants in those meetings.
Requests for meetings are pre-screened and treated on a case-by-case basis depending on senior managers schedule and availability. The “Investor Relations” section of HFSF webpage provides clear and timely IR information for Fund’s stakeholders and investors for their further understanding of the Fund’s operations.

Disclosure Frequency

Quarterly Financial Reports
A copy of the Interim Financial Statements and the Interim Financial Report are available on the Investor Relations section of the HFSF’s website.
Annual Report
Annual Reports are posted on HFSF’s website.
Other Public Disclosures
Announcements on Financial Results, Management and Corporate Governance and HFSF’s activities are published on the HFSF’s website.
Press releases, articles and surveys may be published on the HFSF’s website or on prominent publications whenever a need arises.
HFSF may also organize conferences or participate in roadshows. Relevant announcements shall be made in advance of the event.


HFSF communicates with investors, investment bankers, analysts and media through the following persons:
▪ the members of the Executive Board
▪ the Chairman of the General Council
▪ the Chief Investment Officer
▪ the Investor Relations Officer
The members of the Executive Board can at their discretion and as the case each time might be authorize other persons to speak to the media.
All inquiries received by investors, investment bankers, analysts or media should be directed to the Investor Relations Officer.

Financial Reporting

The Audit Committee has the oversight of Internal Controls over Financial Reporting (ICFR) and monitors the adequacy and effectiveness of the ICFR based on the reports received from the internal audit department and the external auditors. The Audit Committee supervises the preparation of annual financial statements of the Fund in accordance with the International Financial Reporting Standards and advises the Fund’s General Council accordingly.
The IFRS financial statements are approved by the Executive Board, and the General Council, following the preapproval of the Audit Committee. Annual IFRS financial statements are audited and semi-annual IFRS financial statements are reviewed by the statutory Auditor.

Confidential Information

The importance of the tasks of the HFSF and its pivotal role in the banking system, call for strict loyalty, confidentiality and disqualification standards for HFSF personnel as well as ample safeguards of independence.
Information considered confidential is communicated among the members of the Management Bodies and the employees only in accordance with the HFSF rules/guidelines and is not communicated to outsiders without authorization. The basic principle is HFSF not to communicate such information to third parties until timely and fair disclosure is conducted. When dialogue is conducted with investors in individual meetings, multiple staff members must always participate to make sure that such information is handled carefully.