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The Prize Bond Company is a joint venture between the founders An Post and FEXCO and is based in Killorglin, County Kerry.The company was created in 1989 with issued share capital between the founders of 50% each and will operate the scheme under its current (as of 2011) contract until the end of 2019.
The prize fund is paid for out of the equivalent interest payable on the entire bond pool for that month. As of 2020 the prize fund rate is 4.65% [5] implying that a bond holder can expect to achieve a mean long term return of 4.65% per annum. In reality, the nature of a lottery bond means that median returns are lower and are increasing in the ...
If you want to buy bonds, start by having a plan, understanding the role interest rates play and knowing how you want to diversify your holdings. Take time to identify your financial goals, too ...
As of 2009, services offered by Fexco included prize bonds, dynamic currency conversion and related customer services. [ 12 ] In 2010, Fexco acquired 75% of Goodbody Stockbrokers for a reported bargain price of €24 million with the management take the remaining 25% stake in the business.
An Post held the licence granted by the Minister for Finance to run the National Lottery through its subsidiary, An Post National Lottery Company until February 2014. All employees of An Post National Lottery Company were seconded from An Post, and as such were employed and paid by An Post rather than by the subsidiary.
The bonds are entered in a monthly prize draw and the government promises to buy them back, on request, for their original price. The government pays interest into the bond fund (4.15% per annum in December 2024 but decreasing to 4% in January 2025) [ 1 ] from which a monthly lottery distributes tax-free prizes to bondholders whose numbers are ...
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To raise funds during Ireland's post-2008 economic downturn, the Irish government sold the National Lottery licence for 20 years to a private operator, Premier Lotteries Ireland DAC (PLI), which was initially majority-owned by the Ontario Teachers' Pension Plan, with a minority stake held by An Post and An Post Pension Funds. PLI began ...