A new investment club interviewed on these pages last August, mba.ie, has purchased three stocks to date. The club's shares in First Active worth £1,250 were purchased at €2.30 (£1.81). It bought £2,000 of Eircom at the flotation price of €3.90 (£3.07) and then Xerox at $23.75 (£24.08).
The first two stocks have made a comeback after performing poorly since their buy dates but Xerox still hovers in the same region, says club member, Mr Joe Reid.
At its next monthly meeting the investment club hopes to hear recommendations from its members on Internet or software shares. "We've been very conservative to date in order to build up a core of investments," says Mr Reid. "We feel these are good holds long term and now we're ready to start playing with riskier investments."
The total invested to date is £6,250. Each of the 20 club members initially invested £200 and has £50 debited from their bank accounts each month.
For more information on forming an investment club, check out the Motley Fool website: www.fool.com/ investmentclub/ investmentclub.htm. To purchase how-to guides call Proshare: 00 44 171 600 0984 or The Investment Club Network on 080 1232 866 970 or 00 44 1604 409928.
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