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Investments for Clubs
Martin_Baxter
Posts: 3 Newbie
Can anyone suggest a sensible investment for an amatuer club's funds?
We have about £19K and want to maximise our return for the members. We need to reserve the right for fairly prompt access, although we probably won't use it. We would be prepared to sacrifice interest if we needed to take the money out in a hurry.
Most of the well advertised accounts/investments seem to cater only for individuals and we're not prepared to put club funds in an individual's name for obvious reasons.
Any advice gratefully received. :beer:
We have about £19K and want to maximise our return for the members. We need to reserve the right for fairly prompt access, although we probably won't use it. We would be prepared to sacrifice interest if we needed to take the money out in a hurry.
Most of the well advertised accounts/investments seem to cater only for individuals and we're not prepared to put club funds in an individual's name for obvious reasons.
Any advice gratefully received. :beer:
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Comments
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Sorry, 'amateur'. Rather proves the point
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If you want access then I would recommend the Premier Business account from Harpenden BS.
2.00% AER, instant access for up to 25 withdrawals a year, can operate by post, withdraw by BACS to club current account.
http://www.harpendenbs.co.uk/business-notice.asp0 -
Does the club rules allow investments? Most dont and have to stick with savings. Although I suspect from your wording that it is actually only savings that you are interested in.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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You would be able to invest in shares / funds as an "investment club". You will likely need to amend your club's existing rules and constitution to allow the club to make investments.
Most of the main stock brokers provide accounts specifically for investment clubs - TD Waterhouse, Barclays, Self Trade etc.0 -
Thanks for the advice. I guess that we are talking savings rather than inventments. We don't want something that we have to actively manage or something where we can lose money - just a good return on the members' money.
Harpenden BS sound promising and we'll check it out. :T0
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