One of the forestry funds embroiled in controversy over the summer regarding its estimated annual growth rates has launched its second phase of investment. The Premier Irish Forestry Fund is hoping to place 1,000 preference shares of £1,000 each with investors. According to a fund illustration based on certain assumptions about the market and economic variables, "each £1,000 share should return an amount of £35,009 tax free after a thirty-year period".

The fund projects returns of 12.58 per cent annually which, when adjusted for assumed inflation of 4 per cent, is 8.58 per cent a year.

For more information, contact the fund at (062) 63155.