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Celtic hope to Raise Funds Through FAI Club Draw

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Tickets are now on sale at Killarney Outlet Centre for this year’s FAI National Club Draw which helps support local football clubs with their ongoing fundraising efforts.

There are four brand new design Ford Fiestas to be won (an example of which is on display in the Killarney Outlet Centre) kindly provided by Killarney Autos, Ford Irelands main dealership in Killarney.

Sales from the tickets go to help in the running the underage and Football for All programmes at Killarney Celtic, said Mike Lyne, Director of Football.

"We are very grateful to Killarney Autos and Killarney Outlet Centre for their assistance in helping us promote the draw. Whilst the four Ford Fiestas are the number one prize there are also a multitude of alternative prizes including tickets to this year’s Champions League final, a Premier League weekend at Old Trafford and a whole year’s electricity costs amongst hundreds of other fabulous prizes,” he said.

Mike added that club officials have set up a sales desk in the Killarney Outlet Centre and are selling tickets from now until the end of October.

The draw takes place on November 21 and individual tickets cost just

€10. You will be entered into the draw with the fantastic opportunity of winning one of four new style Ford Fiestas amongst a host of other fantastic prizes.

Killarney Celtic are one of the most progressive football clubs in Kerry with over 600 playing members and an award-winning Football for All group. The club’s senior team have just completed a rare double, winning both the league and Greyhound Bar KO Cup finals and they also went very close to being Munster Junior Cup finalists this year. As with all clubs, Killarney Celtic relies heavily on fundraising to support its activities so by investing in the FAI National Draw you will be investing in the future of Killarney Celtic and your local community.

At the launch in The Killarney Outlet Centre was Dermot Moriarty of Killarney Autos who have kindly allowed their new Ford Fiesta to be on show as part of the fundraising effort. Should you not be lucky enough to win one of the cars in the draw and are interested in the New Ford Fiesta, contact Dermot at Killarney Autos on 064 66 31355 and he will be delighted to arrange a test drive and discuss purchase options.

Tickets for the FAI National Club Draw go on sale today and are available from Killarney Outlet Centre and club members.

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The Irish investment market is pathetic

By Michael O’Connor, theislandinvestor.com    I lived abroad for years, so all the investment strategies I created were typically outside of Irish tax considerations. But over the last few weeks I […]

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By Michael O’Connor, theislandinvestor.com   

I lived abroad for years, so all the investment strategies I created were typically outside of Irish tax considerations.

But over the last few weeks I have been putting together several investment strategies for Irish-domiciled clients. It has been eye-opening, to say the least.

In short, most of the Irish market appears to be dominated by a handful of life insurance companies that offer ‘wrapped’ Multi Asset Funds. This means they offer a basket of stocks, bonds, property etc., all within one investment.

Irish Life’s MAPs 4 multi-asset fund states a standard annual management charge of 1.15%. A bit on the higher side for my liking, but this is still manageable.

But when you dig a little deeper, the KID documents (where all fees have to be fully disclosed as part of UCITS regulations) show the fee as 2.2%.

Double the quoted price

As an added bonus, they lock your money up for seven years, where an early encashment charge is waiting for those who wish to withdraw their money early. That’s right, they charge YOU for making your money inaccessible.

This lock-up period is a shrewd business tactic. An exit charge is an excellent way to ensure customers don’t leave when they realise how poor the performance is.

Too late, you’re trapped.

Performance

Fees become more digestible provided the performance is strong, but unfortunately, the misery continues.

The Irish Life MAPS 4 Portfolio has an annual return of 1.63% a year over the last five years. Granted, this was a challenging market climate to navigate, but falling below even the lowest expectations of inflation means that this fund has returned negative real returns after inflation over the last five years.

A similar 60/40 portfolio made up of passive index funds (S&P 500 and US T bonds) would have returned roughly 6.5% a year over the same period for a fee of roughly 0.1%.

We can go round and round in circles regarding the ‘risk adjusted’ approach and the added ‘diversification’ of the multi-asset fund versus the 60/40 portfolio I have shown. But the reality is much of this so-called diversification is over-engineering for an extra cost for many long term investors.

So, how can such pathetic offerings still exist in a system where low-cost operators such as De Giro are providing endless ETF options and commission-free trades that provide access to market returns at a fraction of the price?

Two reasons spring to mind

Firstly, the Irish retail investment scene is built on a financial broker commission system where unsuspecting customers are shoved into these products by ‘financial planners’ who receive kickbacks and commissions from these investment companies. You think you’re getting free investment advice; believe me, you’re not.

Second, the tax treatment of ETF structures is comical in Ireland, and US ETFs aren’t even an investment option. A 41% exit tax and an eight-year deemed disposal rule leaves investors stuck between a rock and a hard place.

Choose an overpriced, underperforming product that locks your money away for multiple years or choose the cheaper, better-performing product and suffer the tax consequences.

Bizarrely, investors are forced to make decisions based on preferential tax treatment rather than on the underlying investment’s merits.

I have gone into much more detail on the tax treatment and investment options in Ireland on my website. Just scan the QR code.

If you would like me to independently review your investment portfolio, just send me an email at mike@theislandinvestor.com.

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Rebel lights delight for Killarney star

By Con Dennehy The continued growth, development and participation of women’s handball in East Kerry was rewarded at the weekend when Cork hosted ‘She’s Ace’, the prestigious All Ladies Handball […]

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By Con Dennehy

The continued growth, development and participation of women’s handball in East Kerry was rewarded at the weekend when Cork hosted ‘She’s Ace’, the prestigious All Ladies Handball championships.

Attracting all the leading players in Ireland, it was Sarah Dineen, the Spa/Killarney player who shot out the Rebel lights in Conna with a phenomenal display of handball.

Competing in the highly competitive Ladies Challenger championship, the Killarney player, who took up the sport just 18 months ago, had the perfect start in the competition defeating the home town favourite Agnes Hurley from Conna on a 21-20 scoreline following an energy sapping and close encounter that hung in the balance to the final ace.

In her second game she took on the challenge of Nolwenn Even from St Brigids where her skill, superior fitness and movement on the court resulted in the 21-12 victory and a place in the prestigious final.

“The final was always going to be a difficult game not least playing local girl Kate O’Riordan from Conna. I concentrated on my serve and kill shots which ensured we shared the aces early in the game. It was a difficult game with the home supporters out in force to cheer on their local hero. However, I played well and secured a 21-11 victory. This was the second time this title came to Spa Killarney following the 2022 win by Aoife Walsh in Northern Ireland,” said Sarah, who is currently chairperson of the Killarney Camogie Club.

A native of Westmeath, Sarah (46) runs a jewellery business in Killarney and lives in Rathmore. No stranger to competitive sport she played camogie for Westmeath and Leinster and also won an Intermediate championship Gaelic football medal in Westmeath.

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