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Limited Spaces Remaining for the ŠKODA Ring of Kerry Charity Cycle

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There are limited spaces remaining for The Ring of Kerry Charity Cycle, which will take place on Saturday, 7th July 2018. The cycle, which this year celebrates 35 years as Ireland’s largest one-day charity fundraising event, is expected to see 10,000 recreational cyclists take part.

Over the past 35 years, the cycle has raised almost €15 million for 150 charity organisations, through the annual support of participating cyclists and volunteers. Aside from some essential costs to run the 180km Ring of Kerry Charity Cycle, all funds raised go directly to carefully selected charity organisations.

To date, funds raised from The Ring of Kerry Charity Cycle have benefited many support services, such as Down Syndrome Ireland, Enable Ireland, the Irish Kidney Association, Breakthrough Cancer Research, the Kerry Hospice Foundation, Pieta House, St Joseph’s Home in Killorglin, and many more.

To celebrate ŠKODA and Liam Lynch Motors sixth consecutive year partnering with the Ring of Kerry Charity Cycle, they have announced some special activities to support cyclists before and after the infamous 180km cycle.

On the evening of Friday, 6th July, at the cyclist registration event, ŠKODA and Liam Lynch Motors will have two courtesy bike mechanics on stand-by, for any last minute repairs that participants may require, to ensure that participants’ bikes are readily prepared for the 180km challenge.

In addition to that, ŠKODA will have an array of high quality cycling apparel for sale, including shorts, jerseys and rain gear at a special discount rate.

After completing the trek, ŠKODA and Liam Lynch Motors will offer participants courtesy massages, via six specialist sports massage therapists, who will be on hand to take care of any post-cycle strains and aches. 

Speaking about the Ring of Kerry Charity Cycle, Liam Lynch of Liam Lynch Motors said:

 “We have a great tradition of welcoming guests to our wonderful county and we’ll be doing just that, as thousands descend on Kerry, for this event, in July. There has been a great response to the cycle yet again this year, but I would urge people to register for the last remaining spaces, as soon as possible, to avoid disappointment. It’s a great day out and the event raises much-needed funding for many great causes. As a special thank you to all event participants, we are delighted to offer some additional services, to make the challenge a little easier and we look forward to welcoming those taking part, to our showroom.”

For further information on The Ring of Kerry Charity Cycle, check out www.ringofkerrycycle.ie, or to contact a member of staff at Liam Lynch Motors, call 066 9793066.

 

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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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