Third Irish forestry fund.

Harry Palmr

They said late July, so patience.

antietam1

I was joking.

Sonny noggs

Waiting for the end of July with bated breath.

Have 2 shares in the Sixth Forestry Fund.

Robodoc

Have shares in 2nd and 5th funds, sincerely doubt that a return of 12.5% will happen, we’ll be doing well if we get 7.5%

liamoreilly

...Off topic a bit as not related to any other projects... How would go about starting to invest in this, is there an official sight to sign up and do it, or do you have to source your own land first and then plant/apply for Grant's etc... myself and brother are looking at it as a long term investment, and a plus that it is a Green investment...
...Any information is appreciated!!!...

hgfj

Robodoc wrote: »

Have shares in 2nd and 5th funds, sincerely doubt that a return of 12.5% will happen, we’ll be doing well if we get 7.5%

Probably be lucky to get a return of 7.5% overall never mind 7.5% compounded!

One thing I noticed with all these Forestry plans and funds was that every time they introduced a new one the projected return was always less than the previous ones. I bet if you look back at the prospectus for the 2nd and 5th you'll see a significant difference in projected compound return.

lcwill

I'm guessing somewhere around 4%: enough to double the investment which a journalist will take as justification for a nice headline and claims of a "summer bonanza", even if its nothing like the originally promised returns.

dan1981

Sonny noggs wrote: »

Waiting for the end of July with bated breath.

Have 2 shares in the Sixth Forestry Fund.

You'll be waiting a bit longer. I was told earlier this week cheques won't issue now until mid-August at the earliest.

Robodoc

Getting more and more curious about this. Have not received notification of any delay in payment as yet. If we really are shareholders, can the company be sold out without consulting with shareholders? Should we not be advised what payouts we will receive in advance of the actual payout, at the moment it seems to be a case of, we have sold the company and you’ll see what you get when the cheque lands on the floor, and at that stage it’s absolutely a fait accompli. Hmmmmmm.
Have since browsed lots of posts relating to IFF, we have no voting rights, previous funds appear to have returned 1.5% annually, i await that cheque with interest, just don’t think i’ll be painting the town red.

AndrewJRenko

Robodoc wrote: »

If we really are shareholders, can the company be sold out without consulting with shareholders?

Were you not clear on the legal status of what you were buying into at the outset?

Robodoc

AndrewJRenko wrote: »

Were you not clear on the legal status of what you were buying into at the outset?

No actually, was just an opportunistic investment at the time promising good returns.

AndrewJRenko

Robodoc wrote: »

No actually, was just an opportunistic investment at the time promising good returns.

There's a lesson there for any investor

fergus1001

liamoreilly wrote:

...Off topic a bit as not related to any other projects... How would go about starting to invest in this, is there an official sight to sign up and do it, or do you have to source your own land first and then plant/apply for Grant's etc... myself and brother are looking at it as a long term investment, and a plus that it is a Green investment... ...Any information is appreciated!!!...

investing in your own land and managing it properly will yield the most return for you

lcwill

AndrewJRenko wrote: »

There's a lesson there for any investor

The guys who set up these funds were only ever in it to milk what they could out of the investors.

I presume everyone is aware they got the contract to keep managing the land for the new owners....very convenient

AndrewJRenko

lcwill wrote: »

The guys who set up these funds were only ever in it to milk what they could out of the investors.

I presume everyone is aware they got the contract to keep managing the land for the new owners....very convenient

You may be right, but my point was about the importance of investors knowing up front the legal structure of what they're investing in, and what options that would give them in the future.


It's madness to have invested a four figure sum and not know whether it's a fund or a company shareholding or what.

ForFsSake

dan1981 wrote: »

You'll be waiting a bit longer. I was told earlier this week cheques won't issue now until mid-August at the earliest.

Dan - who told you this?

dan1981

ForFsSake wrote: »

Dan - who told you this?

Person in Veon.

ForFsSake

dan1981 wrote: »

Person in Veon.

Thanks - I called them on Wednesday and they said "towards the end of July". Granted I likely got a receptionist who would just say what she was told to say - do you thing your person is more likely to know more?

Harry Palmr

Does it really matter? I mean was anyone even expecting the total asset sale in 2019?

ForFsSake

Harry Palmr wrote: »

Does it really matter? I mean was anyone even expecting the total asset sale in 2019?

It does a bit as they mailed us in May saying July and told me the same on the phone this week so July is/was my expectation.

If its August that's OK too (for me anyway, maybe not for everyone) but it just raises one more doubt in the mind about this company - which like many people I have a few.

Anyway - will just wait and see what happens ....... no biggie .......

paris24

No word here from them either. Its all very shady.... I dont understand how they cant tell you before the cheques are released what the share value is. Does anyone have a clue what the return might be?

Neira

Unfortunately as a participant of the IFF we are not shareholders

Harry Palmr

I have a pieced of paper in my hand -

Cheques will be issued on August 16th, the delay is due to a large number of shareholders having not updated their contact details. Given there is about 22 years since the first shares were bought that's fairly understandable. People tend to forget this sort of thing or keep putting it off.

ForFsSake

Harry Palmr wrote: »

I have a pieced of paper in my hand -

Cheques will be issued on August 16th, the delay is due to a large number of shareholders having not updated their contact details. Given there is about 22 years since the first shares were bought that's fairly understandable. People tend to forget this sort of thing or keep putting it off.

Harry - Thanks for the update. I haven't had a letter myself but maybe its on the way. Or maybe they have decided not to write out and just wing it until August. Agree there probably is a large group of shareholders contacting them with changes but that was foreseeable in May when they said payment in July. They could at least update their website as the home page still states

"THE DEADLINE FOR CHANGES AND ALTERATIONS TO THE SHARE REGISTERS FOR THE IRISH FORESTRY FUNDS IS 12 NOON THIS FRIDAY 31ST MAY 2019 IN PREPARATION FOR THE ISSUING OF DISTRIBUTIONS IN JULY. PLEASE ENSURE THAT ANY ADDRESS CHANGES AND RECTIFICATIONS ARE COMPLETED PRIOR TO THIS DATE.

I would also bet what ever payment I receive that my cheque will not be posted by the 16th August. There will be another reason for next delay. Something about this crowd has never rang true with me and they are certainly doing nothing to change my mind about them at this late stage. The expected poor ROI will be the end of it all. Live and learn ......

Hatters

I was also told today 16th July and “no idea” what each share is worth. I was expecting a letter with share price once the “ independent audit “ was completed, apparently that’s still ongoing! I’ve projected all your values now from 4-12.5%...a very wide range... no idea what to expect... I’m a 2nd fund investor...1997!!!

ForFsSake

Hatters wrote: »

I was also told today 16th July and “no idea” what each share is worth. I was expecting a letter with share price once the “ independent audit “ was completed, apparently that’s still ongoing! I’ve projected all your values now from 4-12.5%...a very wide range... no idea what to expect... I’m a 2nd fund investor...1997!!!

Assume you mean 16th August?

My expectation is that this will drag on well past August and when we finally get the cheques they will be for not much more than what we put in 20 years ago in todays money.

For example the 3rd forestry fund states that for an investment of £500 (EUR 635) "the investor should receive a distribution in excess of £28,500 (EUR 36,188) when the trees are harvested in 30 years time". They even put this sentence in bold print on the prospectus (its online if you want to read it).

We are in for circa 21 of the 30 years and I expect nothing over £2-3K EUR per share when the money finally arrives. No doubt the fund manager won't go short for a few bob though when its all over and took full whack for each of those 21 years despite the fund performance.

Not a mistake I will be repeating!

Hatters

ForFsSake wrote: »

Assume you mean 16th August?

My expectation is that this will drag on well past August and when we finally get the cheques they will be for not much more than what we put in 20 years ago in todays money.

For example the 3rd forestry fund states that for an investment of £500 (EUR 635) "the investor should receive a distribution in excess of £28,500 (EUR 36,188) when the trees are harvested in 30 years time". They even put this sentence in bold print on the prospectus (its online if you want to read it).

We are in for circa 21 of the 30 years and I expect nothing over £2-3K EUR per share when the money finally arrives. No doubt the fund manager won't go short for a few bob though when its all over and took full whack for each of those 21 years despite the fund performance.

Not a mistake I will be repeating!

Apologies, yes meant August... suspect you’re right re the final dividend!

sue97

My daughters received a share from my father and because of this forum I contacted the fund with a change of address. They gave me a name and address (no email or phone number) to contact.

I got my daughters to write to this guy in May, no communication since. It seems incredibly shady. Will be interested to see what happens

MM75

Hate to burst anyone’s bubble but if my pervious experience is anything to go by, I wouldn’t be holding my breath for a ‘windfall’ (whatever that is in journalistic terms!)

Can’t remember the exact amount but a 10 year fund I had that matured approx 3 years ago got me a cheque for what I’d invested plus a minute amount - only just covered what it cost. Like I said, can’t remember the exact amount but it was no more than a couple of hundred quid - so small it seriously was not worth remembering.

Anything after covering costs would be a bonus
I hope I’m wrong 😀

IrForestryQ

Did a quick calculation of 3 shares taking into account inflation adjusted percent and I'm getting the following results.

I also included the average % over the current total years and got an average return rate, then drew that over the remainder.

If we don't receive at least the current calculation and a hefty percentage of what is to come I hope we can refuse the sale to AXA and re-negotiate.

Im nervous by the lack of correspondence and details of the sale.

Makes me worried that value and good future returns are being sold on the cheap here and we the long term investors might be potentially going to be left out of the liquidation of the initial final maturity.

I could obviously be wrong and we might all infact get a windfall as reports have been, but thats just the paper and they really have no more information than early liquidation.

If anyone has anymore info on this would be most appreciated.

3 Shares 1500 (In Pounds)

---

%--Year--Amount--Gain---Total
10.09% 98 1500.00 151.35 1651.35
10.87% 99 1651.35 179.50 1830.85
6.92% 0 1830.85 126.69 1957.55
7.62% 1 1957.55 149.17 2106.71
7.88% 2 2106.71 166.01 2272.72
9.00% 3 2272.72 204.54 2477.27
10.30% 4 2477.27 255.16 2732.42
10.07% 5 2732.42 275.16 3007.58
8.57% 6 3007.58 257.75 3265.33
7.60% 7 3265.33 248.16 3513.49
8.43% 8 3513.49 296.19 3809.68
16.96% 9 3809.68 646.12 4455.80
13.40% 10 4455.80 597.08 5052.88
9.94% 11 5052.88 502.26 5555.14
10.80% 12 5555.14 599.95 6155.09
11.99% 13 6155.09 738.00 6893.09
12.32% 14 6893.09 849.23 7742.32
12.79% 15 7742.32 990.24 8732.56
12.49% 16 8732.56 1090.70 9823.25
12.16% 17 9823.25 1194.51 11017.76
12.01% 18 11017.76 1323.23 12340.99 Projected Actuals: 12340.99 (In Pounds uncoverted)
10.58% 19 12340.99 1305.85 13646.85
10.58% 20 13646.85 1444.03 15090.88
10.58% 21 15090.88 1596.83 16687.71
10.58% 22 16687.71 1765.80 18453.51
10.58% 23 18453.51 1952.64 20406.15
10.58% 24 20406.15 2159.26 22565.42
10.58% 25 22565.42 2387.74 24953.16
10.58% 26 24953.16 2640.40 27593.56
10.58% 27 27593.56 2919.79 30513.35
10.58% 28 30513.35 3228.75 33742.10 Projected Maturity: 33742.10 (In Pounds uncoverted)