Connect with us

News

Listowel Races announce seven day action packed programme

Published

on

0236141_listowel_jeans003.jpg

An action packed programme of racing and fashion is being planned next month both on and off the course as the seven day Harvest Racing Festival takes place in Listowel.

Celebrated as one of the longest established race meetings in Ireland, Listowel Race Company has squeezed a lot into the week-long event from Sunday September 18 to Saturday 24.

There is something for everyone of all ages including six fashion competitions with dedicated days for Ladies, Men's, Couples, Sustainable/Vintage, Blue Jeans and Fancy Dress; exceptional free children’s entertainment on the Sunday; live music and some very special celebrity guests. Also, the ‘Save your Heels, We’ve got Wheels’ free double decker bus is back on Ladies Day!

The opening day’s card is sponsored by Kerry Group with the 1st Race off at 1.40pm. The feature race is the Kerry Group Steeplechase €40,000. Sunday also features a new best dressed event - the Lyrath Estate Best Dressed Couples Competition judged by top radio and TV personality Elaine Kinsella, with a prize fund valued at €2,000! Sunday is also family day sponsored by Garvey’s SuperValu and this year’s entertainment is better than ever! Highlights include the free Wooly Farm with chicks, guinea pigs, hens, ducks, rabbits, lambs, piglets and pygmy goats, plus Roo the Llama! Then there's the return of Giggles Entertainment with a mini disco, face painting, free balloons and Coco Melon and Mickey Mouse will meet and greet all the children as they arrive!

LADIES DAY

The Ladies take over on Friday for the eight year of McElligotts sponsorship of this prestigious fashion event. Judged by Bairbre Power, fashion writer; Aoife McNamara, Irish fashion designer, the fantastic first prize is a trip for two to New York with spending money. There are also generous cash prizes of €1,000 for the Most Creative Headpiece and €500 for the Most Contemporary Outfit. The feature race is The Ladbrokes Handicap Hurdle €80,000 (Grade B) and the first race on Friday is at 1.40pm. All aboard. . . . as the famous open top Double Decker Bus is back to transport everyone in comfort and style from the centre of Listowel town to the races from 11.30am.

There will also be live music each day and a wide selection of catering facilities. Visit www.listowelraces.ie for more information.

Continue Reading
Advertisement

News

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 […]

Published

on

0249294_Mike_Stocks.jpg

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.

Attachments

Continue Reading

News

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 […]

Published

on

0249174_Sarah_Dineen.JPG

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.

Attachments

Continue Reading

LOCAL ADS

Last News

Advertisement

Sport

Trending