It seems that there are some pretty po-faced people in the investment industry. Current Account noticed this week the company behind the London Erotica festival, which exhibits marital aids and rubber and leather goods, has given up trying to get money from London institutions and instead is talking about reversing into an unnamed AIM-listed company.

"They did not think that a name like Erotica would sit well on their list of clients," Erotica boss and former Arthur Andersen accountant Savvas Christodolou said.

The City suits might have turned up their nose at Erotica, but some 60,000 punters were attracted to the recent three-day festival, a near 50 per cent increase on the previous year.

Whatever about being given the bum's rush by the City suits, Current Account doesn't think that Savvas would make much headway if he takes his investment ideas to Irish fund managers. The investment delights of erotica are unlikely to feature on your average Irish fund manager's radar.