There has been considerable reaction to a recent feature we did about investment clubs. Our article also inspired one of the biggest British investment club networks to write, offering its services to Irish investors.
Terry Bond, development director with ProShare Investment Clubs, a British not-for-profit organisation funded by the London Stock Exchange and British industry which is helping to ensure that groups are organised properly and for the benefit of club members wrote:
"There is absolutely no reason to attend a £500 seminar to learn how to set up and run a successful club. Over 95 per cent of existing clubs have been created by groups using nothing more than the ProShare Investment Clubs Manual, which costs a £25 sterling." According to Mr Bond, at the start of last year there were just 350 ProShare clubs in operation; today there are more than 2,500.
ProShare Investment Club Manuals are available by credit card by calling the following number: 0044 171 394 5200.
Meanwhile, Marian Trimble from Dublin wrote to say that her investment club Acorn was set up in November 1997 and has nine professional women members and is looking for another six or seven to join the group.
"We have drawn up a constitution and a set of rules and we meet at regular intervals to decide how to invest our money. Currently we have invested in five companies in the Irish stock market which are all performing reasonably well." Each member puts in an initial £500 plus £50 a month and they make a stock purchase every two or three months, dealing through Goodbody Stockbrokers which charges 1.65 per cent of the value of the deal or a minimum of £40.*
Finally, the interest in direct share investment by clubs and Internet investing by Irish private investors has prompted stockbroker NCB to launch two Websites, one of which offers the first delayed online dealing service in Ireland. The Website is http://www.finfacts.ie
* Women interested in joining the Acorn Investment Club can contact Ms Trimble at the following email address: trimbleindigo.ie
