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 response.
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.
Members' assets are held in the Club's bank account and 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 back to the bank account where the previously mentioned two signatories are required to release monies from the account. All three of the Club's officers have online access to both the bank account and stockbroking account providing ongoing transparency of the Club's assets.
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 include 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 make their proposal prior to the Club's monthly meeting and in line with the rules laid out in the Club Constitution.
There is a joining fee of €40 and an annual membership renewal fee of €40 payable on the 15th September each year. Depending on the costs of running the Club, the Club Committee can raise the joining fee and/or annual membership fee by proposing and passing such a motion at any of the Club's meetings.
There are two principal objectives of the Club's monthly meetings:
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.
For further information on the data we process and the technical and organisational measures in place to protect personal data, please check our Transparency Notice.
In short, you will need to provide your name, email address, mobile phone number and proof of address.
Strangely, we have found that Bank of Ireland customers can only set up one standing order online. For the second standing order, you will need to go into a Bank of Ireland branch and set it up in person.