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Investment account with Rabo

  • 13-09-2010 10:49am
    #1
    Kila
    Registered Users, Registered Users 2 Posts: 436 ✭✭


    Hi all,

    Just opened a savings account and an investment account with Rabo. Planning on investing just a small amount at first using their regular investor account (putting in a few hundred a few times a year is the plan).

    I'm just wondering if anyone has any recommendations for funds to purchase in to, funds to avoid, or any tips in general. I'm quite new to investing, so Rabo seemed like a decent way to get my feet wet without too much risk.

    Thanks.


Comments

  • #2
    jim-mcdee
    Registered Users, Registered Users 2 Posts: 373 ✭✭jim-mcdee


    AFAIK, the rabo funds dont deduct tax, you have to declare the tax yourself. so you better add in the costs of an accountant if you are going to invest in rabo funds. or expect a visit from the taxman.


  • #3
    FernandoTorres
    Registered Users, Registered Users 2 Posts: 698 ✭✭✭FernandoTorres


    Or you could just invest a couple of hours research and figure out how to make your own tax returns, it's really not that difficult!


  • #4
    soddy1979
    Registered Users, Registered Users 2 Posts: 284 ✭✭soddy1979


    Yeah I wouldn't bother with an accountant. Plus AFAIK you're not eligible for CGT on the first 1000 approx realised gain. I think you can hold unrealised gain for a longer period before paying CGT but I may be corrected on this.


  • #5
    Raskolnikov
    Registered Users, Registered Users 2 Posts: 10,148 ✭✭✭✭Raskolnikov


    Kila wrote: »
    Hi all,

    Just opened a savings account and an investment account with Rabo. Planning on investing just a small amount at first using their regular investor account (putting in a few hundred a few times a year is the plan).

    I'm just wondering if anyone has any recommendations for funds to purchase in to, funds to avoid, or any tips in general. I'm quite new to investing, so Rabo seemed like a decent way to get my feet wet without too much risk.

    Thanks.
    I am not a fan of the Rabo fund offerings for a number of reasons.

    1. Entry and exit fees of 0.75%.
    2. Annual management fee of 1.5%.

    These figures don't sound like much, but when you compound them over the lifetime of your investment, you'll see that your fund provider is making an awful lot of dough. The very same fund providers also seem quite keen for customers to jump in and out of funds by promoting the latest "hot" fund. The effect for poor performance is two-fold. For one, you have to pay exit/entry fees to move into the new fund. Secondly, too often, today's fad, or "hot" fund is tomorrow's dog.

    I honestly think that most people would be better served by opening a brokerage account and investing in 6-8 large cap companies in long-term performing companies. If that sounds too much for you, then you're better off with a savings account.


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