Frequently Asked Questions
The following is a list of questions that would-be members often ask. For Members, there is a separate 'Questions & Answers' facility in the members' area where they can ask questions at any stage and get a rsponse. Questions cannot seek advice as the provision of investment advice to an individual is a regulated activity and would need a client/advisor relationship to be established which requirs form filling etc.
If I become a member, how long do I need to commit to staying?
There is no time limit but it is recommended that you commit to a minimum of 3-4 years. Investing on a monthly basis considerably lowers the risk of (permanent) losses but when economies encounter recessionary conditions and stock markets decline in anticipation of that it can take a while for markets to recover. In the past, a 3 to 4-year time commitment has generally been sufficient to overcome a situation where markets encounter poor conditions and enter a bear market (a downward trending market) shortly after a member starts his/her savings programme with the Club.
How safe are the Club's assets?
The Club has both a bank account and a stockbroking account. The Chairman, Secretary and Treasurer are signatories to the Club's bank account and any withdrawals from the bank account must be authorised by two out of the three officers. Withdrawals from the stockbroking account can only be transferred to the bank account where the previously mentioned two signatories are required to release monies from the bank account. All three of the Club's officers have online access to both the bank account and stockbroking account, which ensures transparency.
Who makes the monthly investment decisions?
Investment decisions are made by the Club Committee at the monthly Club meetings and implemented by the Treasurer or other officers of the Club. The Club's officers inlcude the Chairman, Secretary and Treasurer. The Club Constitution states that 50% of members' contributions will be invested in a passively managed exchange-traded equity fund with the remaining 50% invested in either an actively managed equity fund (an investment fund or investment trust) or an individual company (a stock or share). The Club Committee will be guided by the Chairman, Rory Gillen, and members wishing to contribute to investment decisions have to put their proposal to the Club meeting following some basic rules laid out in the Club Constitution.
What costs are involved?
There is a joining fee of €40 and an annual membership fee of €40 payable on the 15th September each year. Depending on the costs of running the Club, the Club Committee can raise both fees by proposing and passing such a motion at any of the Club's meetings.
What is discussed at the monthly Club meetings and how long do they last?
There are two principle objectives of the Club's monthly meetings (i) to improve members' understanding of investment matters and investment markets, so that 50% of the meeting is normally devoted to educational-style discusions and (ii) to decide on what to invest in with that month's members' contributions. Monthly Club meetings will last no more than an hour after which members can join the Chairman in the Beach House for further informal investment discussions, should that suit them.
What personal data do I need to provide?
To become a member you will need to provide your name, address, mobile phone number, email address and age. Younger members may be askd for proof of age. Members will be identified in the members area only by a membership number which is known only to them and accessible only by the Club's officers. The website is encrypted and has two factor authenitication (Claude to advise on wording), so that members' personal data should be secure.