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Piggy Investment Clubs

One of the most interesting stories when it comes to investing as a retail player on the Zimbabwe Stock Exchange (ZSE) relates to the case-study of Roy Turner. He passed away early this year at the age 86 and was an astute investor on the local market who held a significant portfolio on the ZSE given that he still appears on many top 20 shareholder lists for ZSE companies. Some of his holdings are in Masholdings, Masimba Holdings, Proplastics, Falgold and Afsun.  We note that in September 2005, SCAIFLOW Investments (Turner’s company) became one of the leading investment vehicles on the ZSE, spreading its interests across 24 listed companies out of the 80 counters.

While Roy Turner was very conservative, never married and used a bicycle as his mode of transport, a lot of ideas can be learnt from him regarding investing on the stock market. A number of folks have cited that it is difficult to start investing given the minimum investment thresholds that have been set by local brokerage firms. However, there is a solution to that; Investment Clubs.

Piggy has proposed the idea of pooling funds and investing on the stock market through Piggy Investment Clubs. This is a great way to generate value by sharing ideas while offering an avenue to diversify a personal or household investment portfolios. The following are some of the features of Piggy Investment Clubs;

  • An Investment Club shall have a minimum of 10 and maximum of 15 members;
  • Members can create their own groups (based on their own social-circles) and then invite the Administrator (Piggy) to join the Group;
  • The Administrator (Piggy) may also create groups based on the already existing WhatsApp-based Trading Groups;
  • The minimum amount that shall be invested by group members shall be $100. Group members may decide to contribute a larger amount, say $500 or $1,000. This may be once-off or a monthly contribution to the Club;
  • Funding shall be done using Eco-Cash (this shall be the same number used to register a C-Trade Account);
  • Decision making to BUY or SELL stocks will rest on all members and will not vest on any individual within a particular Investment Club;
  • There shall be a lock-in period of 3 months (90 days) for all Piggy Investment Clubs. In other words, no redemptions or profit sharing shall be done within the first 3 months of forming the club;
  • Profit-sharing shall be done based on equal-weightings; and
  • Members of the same Investment Club shall be put under one WhatsApp Group, administered by Piggy for the sake of efficiency in information dissemination.

Individuals looking to be part of an Investment Club should contact the Administrator on 078 358 4745.

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