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Celtic Steps to perform spectacular open-air shows at Killarney Racecourse

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Celtic Steps are to transform their home at the Killarney Racecourse into an open-air theatre for a series of special evening shows set against the backdrop of the stunning Kerry Mountains from Tuesday, June 26 to Friday, June 29 inclusive.

Following on from the success of last year’s two open-air performances to coincide with the Summer Solstice, the local music and dance production will launch a total of four consecutive open-air shows this week to take advantage of the beautiful weather. These outdoor performances provide a unique opportunity to experience the magic of traditional Irish music, song and dance amidst the spectacular scenery of the beautiful Killarney National Park.

“Last Summer marked the first time that we performed the show outdoors, so we are really excited to relaunch the concept this week to coincide with the phenomenal weather we have been blessed with,” said David Rea of Celtic Steps. “We hope that the events will appeal to both locals and visitors alike.”

Highlights of the show will include Irish classics such as Raglan Road and contemporary favourites such as U2’s With Or Without You, a showcase of traditional Irish music from some of Kerry’s most celebrated musicians as well as some spellbinding performances from the Celtic Steps Dance Troupe, which combines the talents of over 21 world champion dance titles, and last but not least the opportunity to sit back and relax in one of Kerry’s most breath-taking venues.

The series of summer shows will commence on Tuesday, June 26 at the regular show time of 8.30pm and will run nightly until Friday, June 29. Customers are advised to book ahead online at www.CelticSteps.ie or by calling the box office on 064 66 26666. Adult tickets are €30 each with children’s tickets (under 16) priced at €20 each. Family tickets (2 adults and 2 children) are available at €75.

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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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