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iClub Lets Personal Investors Create And Manage Investment Clubs Online
February 14, 2001 -
New set of investment club tools empower personal investors to
create online investment communities
CAMBRIDGE, MA, February 14, 2001 -- Actifunds Corporation (www.actifunds.com), the
leading provider of software products for investment clubs, today
announced the
immediate availability of iClub, a set of online tools designed to help
personal investors use the Internet to create and manage investment clubs.
Currently, there are more than 1.25 million U.S. investors involved in
investment clubs, a number that has quadrupled over the past six years,
partially due to heavy consumer adoption of email and easy availability of
investment information online.
Available for free immediately at online brokerage The Financial Café
(www.financialcafe.com) and at
www.iclub.com, iClub
tools enable successful group investing on the Internet by making it
simple for personal investors to form investment clubs online. iClub
tools facilitate group communication and collaboration between members
of an investment club,
regardless of geographical location. iClub tools help encourage a stronger
social and financial community for investors by offering each investment
club access to:
- Discussion Boards-
members can share investing thoughts and ideas by posting to private club
discussion boards, either on the web or over e-mail.
- Portfolio Tracking-members
can keep a close eye on their club's stock purchases and track the
performance
of club investments.
- Tax Accounting-members
can record and calculate the data needed to complete tax forms in a secure
environment.
- Voting-members
can
vote online or via email about buying and selling stocks in their club?s
portfolio.
- File Storage-members
can save research, photos or the minutes from their meetings to share with
others.
- Personal Profiles-members
can share their personalities with others in their club and in other
clubs.
- Access to Partner Brokers-clubs
using iClub tools can trade stocks on Actifunds? partner
sites.
"For years, investors have seen the social, educational and financial benefits
of investment clubs, but they have also seen administrative hurdles of
running an investment group," said Robert Brooker, CEO of Actifunds. "iClub tools
provides online investment club members with an innovative way to easily
communicate and collaborate with others on investing decisions, thereby making group
investing more profitable and socially enjoyable."
"The biggest
challenge our club faces is with communicating with each other regarding
club issues, such as Buy, Sell or Hold decisions," said Marvin Kohn, founding
member and treasurer of Trackers Investment Club, a 6 year old investment club in
San Jose. "iClub has solved this problem by making it easy for our members to
collaborate and make decisions through access to features like discussion
boards and voting."
iClub offers online and desktop applications to answer the administrative and
communication needs of investment clubs. The recently released iClub tools
include online tools that enable portfolio tracking and accounting, public
and private discussion forums, and secure voting and automatic vote tallying.
iClub tools simplify and automate all aspects of investment club administration
and accounting, requiring minimal effort from club members with no compromise of club security. iClub's intuitive user
interface makes creating and managing investment clubs simple. Since iClub is
accessible via the Internet, members can participate in clubs regardless
of location and schedule. With iClub, investors can meet online to form
partnerships, invite new members, pool money together, discuss and make decisions
democratically, and perform tax accounting.
About
Actifunds Corporation
Actifunds is a leading provider of group financial products to financial
institutions and online communities. iClub, Actifunds' online site for investment club
services, enables personal investors to leverage the Internet to communicate and
collaborate with others on investing decisions, making group investing
easier and more social. Over 36,000 clubs already use Actifunds products to
manage their investment dollars, including members of the National Association of
Investors Corporation (NAIC), a 637,000 member non-profit organization
that provides investment education for investment clubs and individual
investors. Actifunds provides the NAIC's official online investment club platform,
which includes communication tools and tax accounting. Founded in February 2000, Actifunds is based in Cambridge,
MA.
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