Investment Club In Benin

[gentle]

Does anybody here have interest in investing in stocks but don't have the 'big' money to do so? then, join others by contributing you 'little' money monthly to achieve in investment goals. Future View Investment Club is just 7 months old in Benin. with 3 members in the first month of existence, the membership has increased to 18, and from N50,000 capital contribution to over N400,000 with members from different background. Interested? call Ese on 08058767059, email: futureviewic@nigerianobservernews.com, visit Future View Investment Club for more info.

Remember, nobody that is either poor or rich that has not helped himself or herself to be.

[gentle]

Future view investment club is waxing strong. Be part of it. visit Future View Investment Club for more info

[junior]

I believe what you guys are doing is what our educational sector and parents have not being able to provide us with (Investment & Financial Management skills). I therefore commend your efforts.

Am setting up an investment club and i have questions. I hope you will be kind enough to help a brother with answers and tips.

Questions
Is it necessary to register the club as a Private Limited Company?
What is this thing about monthly contribution like that of mutual fund as stated under meetings in your website?

Thanks.

[gentle]

It is very necessary to register the club to give it a legal backing and of course trust among members.

For the contribution, because it is a club that deals on investment which in a way encourages members to save (as we do in future view investment club) there has to be a compulsry contribution mostly on a monthly basis. with that, you build saving consciously in people which at the long run increases individual members capital and investment. remember, gains from your investment must be shared according to individual contribution.

Hope you are ok with that. If you need more, let me know

[junior]

Hi,

What system (software or other means) do you use in tracking individual member's contribution assuming there is no uniform monthly contribution?

The issue of tax is it applicable to investment clubs in Nigeria?

Thanks alot man.

[gentle]

Originally Posted by junior

Hi,

What system (software or other means) do you use in tracking individual member's contribution assuming there is no uniform monthly contribution?

The issue of tax is it applicable to investment clubs in Nigeria?

Thanks alot man.

at present, we do not have a specific software for tracking individual contribution. However, it is part of our plan to develop online access to members to be able to check the progress of their account. Right now, individual contribution are recorded and at the time of profit/loss as well as expenses sharing, percentage is used to determine individual's status.

as for the tax, there tax charges at the point of buying and selling stocks, there are also bank charges, etc.

[junior]

Hello,
Thanks, am really grateful. We had a preliminary meeting of interested members yesterday and it was Ok.

Could you please explain in details how percentage is used in determining individual status in line with the fact that there is no uniform monthly contribution.

[gentle]

Originally Posted by junior

Hello,
Thanks, am really grateful. We had a preliminary meeting of interested members yesterday and it was Ok.

Could you please explain in details how percentage is used in determining individual status in line with the fact that there is no uniform monthly contribution.

To use percentage is not difficult. Let take for example the total invested capital for a particular period under review is N500,000 which yield N400,000 gain/loss. And during that period, member A total contribution was N100,000. by simple arithmetic, the N100,000 gives you 0.2 or 20% (N100,000/N500,000 x 100/1) of the total contribution of N500,000. In sharing the profit, that particular member is entitled to 20% of the profit/loss realised during the period. In also sharing the Applies the same to all members.

[junior]

Thanks alot. I will keep in touch on how we are going over here.