Friends First has jumped on the post-Telecom Eireann bandwagon with the release of a new product designed "for all those would-be investors with capital to spare" following the flotation.

The Sharegrowth Plan is a fund offering investors a balanced portfolio of diversified stocks and shares. There are two fund options available designed to meet the customer's acceptable investment risk level.

The Managed Fund spreads investments over a range of Irish and international shares as well as investing in property markets, cash and government bonds. The portion invested away from the equity market helps smooth out fluctuations in the fund.

Investors willing to tolerate the highs and lows may be more interested in the Ordinary Share Fund, with a full investment in stocks which offers a higher potential for return but a greater degree of risk. The minimum investment is £5,000 (€6,348).