Irish Life SmartInvest

The annual management fee seems high at c. 1.25% with a variable portion included in that.
I imagine that there are cheaper options out there.
Actively managed funds arguably incur higher trading costs than passively managed index trackers.
Seems fairly simple to use though.
 
HouseBuyer10 said:
Thank you, @ClubMan. Could you recommend a few better options? I assume no use to put a lump sum in a deposit in the next 1-2 years at least.
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1-2 years is too brief to truly 'invest'. I think prize bonds or State Bonds in the Post office might be the way to go. You don't earn lot but it is tax free and very safe. They font provide instant access to your money but it is quick enough for many people
 
Babhdan said:
1-2 years is too brief to truly 'invest'.
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I agree.
Babhdan said:
I think prize bonds or State Bonds in the Post office might be the way to go.
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There is no 2 year state savings bond. The shortest term product is 3 years.
Babhdan said:
You don't earn lot but it is tax free and very safe.
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You may and probably will not earn anything on prize bonds.

For a 1-2 year timeframe the deposit rates via the likes of Raisin Bank may be worth checking out even if they're still well below inflation.
 
ClubMan said:
I agree.

There is no 2 year state savings bond. The shortest term product is 3 years.

You may and probably will not earn anything on prize bonds.

For a 1-2 year timeframe the deposit rates via the likes of Raisin Bank may be worth checking out even if they're still well below inflation.
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True but there is no penalties for an early redemption and they could earn some interest. I was surprised when I learnt this.
 
HouseBuyer10 said:
Thank you, @ClubMan. Could you recommend a few better options? I assume no use to put a lump sum in a deposit in the next 1-2 years at least.
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I can't suggest anything offhand with a lower annual management charge. But I would be looking for something like 1% or lower ideally. On the other hand it looks like Irish Life have done an interesting/good job of making a simple to use product here so I don't mean to be too downbeat about it.
 
Why use the state savings when you'll get a far better deal from online Raisin.ie.
I'll give you an example below which are fixed term deposit accounts;
€100,000.00 over 3 years @ 3.05% will earn you €9432.00 less dirt tax.
€100,000.00 over 4 years @ 3.10% will earn you €12,989.00 less dirt tax.
€100,000.00 over 5 years @ 3.15% will earn you €16,774.00 less dirt tax.
You can also open deposit accounts with easy access that pay slightly less than the above interest.
They're as good as what you can get on the market and are available to Irish investors. The first €100,000.00 comes under the deposit guarantee scheme. Hope this helps some people. Myself and my beloved have just completed setting up a couple of accounts. The whole process takes aprox 1 working week to set up.
 
 
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