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Investments with Rabodirect

  • 27-04-2014 02:23PM
    #1
    [Deleted User]
    Posts: 305 ✭✭


    I posted a similar thread in the banking forum but do not seem to be getting any replies and thought this might be a more appropriate forum.

    Basically I would like to know if it is worth investing any cash in some of the funds Rabodirect offer. I am wondering if I will gain anything in the short/long term or just end up losing some or all of my investment.


Comments

  • #2
    FernandoTorres
    Registered Users, Registered Users 2 Posts: 775 ✭✭✭FernandoTorres


    They're good for a beginner in that they're easy to access and provide good diversity. I invested in them a few years ago and did well but I wouldn't touch them now with the exorbitant exit tax rates in Ireland.


  • #3
    Evergreen
    Registered Users, Registered Users 2 Posts: 254 ✭✭Evergreen


    I've invested over EUR 20,000 in the RaboDirect investment vehicle and find it very poor. It takes 2 days to buy into some of the funds in which time the price may go, it can also take up to 20 days to exit a fund meaning that the price can very easily go down in the intervening period.

    After 5 months in three of the Rabo funds my overall position today is a loss of EUR 260. In addition it is expensive to enter and exit at 0.75% on either end. I'm thinking of cutting my losses and exiting Rabo Investment altogether in the coming weeks, I recently opened up a trading account with Saxo Bank in Denmark and it is a much better experience - yesterday with Saxo I made over EUR 600 on Bank of Ireland after a rise of more than 4% in the day.

    Biggest problem with buying Irish shares is that you have to pay stamp duty of 1%, whereas shares on most other exchanges you only pay commission (approx 0.1% of trade)


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