Syndicates

Does harness racing have syndicates like they do with thoroughbreds as myself and my dad bought a share with dynamic syndications 10 years ago but after i took my dad to Penny trots last night he now wants to buy a share in a pacer or can we just form a syndicate and buy a horse.How do we get a trainer if we form a syndicate and what are fees worth like vet,training,travel etc


Any info would be greatly appreciated

Cheers

There are syndications around privately and public.

Down in Vic Bendigo club have syndicated one recently while Raceapacer is an industry run one here.

Perhaps contact Harness Racing NSW to see if they have a similar program.

This fairly recent thread may be of interest Brad. If you go back further there are sure to be others

http://www.harnessracingforum.com/sh...er-in-Victoria

I have noticed this in the product disclosure statement for a syndication from last year

A statement that where the partnership/syndicate has not been fully subscribed within six months from
the date on which invitations were first made , ALL moneys held , together with interest, will be returned
to investors within (10) business days:
The promoter & manager acknowledges that they shall abide by the licensing laws that “Should the promotion of
this horse fail, to be fully subscribed within 6 months the promoters shall refund all monies held in trust plus
interest at the applicable rate paid by the CBA within 10 days of expiration”.

I think this should read "if requested"

I believe syndications are regulated by the ASIC. So not easy to change things ... :)

Quote:

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Originally Posted by Messenger

I have noticed this in the product disclosure statement for a syndication from last year

A statement that where the partnership/syndicate has not been fully subscribed within six months from
the date on which invitations were first made , ALL moneys held , together with interest, will be returned
to investors within (10) business days:
The promoter & manager acknowledges that they shall abide by the licensing laws that “Should the promotion of
this horse fail, to be fully subscribed within 6 months the promoters shall refund all monies held in trust plus
interest at the applicable rate paid by the CBA within 10 days of expiration”.

I think this should read "if requested"

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No not easy to change and what happens if some request a refund and others don't Kev? Who makes up for the shortfalls in funding for training fees for a horse that isn't fully subscribed to keep it in training? I think ASIC have it right and syndicators need to do their homework on the horses and the marketplace they are syndicating into very carefully to ensure a minimum of horses that are undersubscribed. Hopefully any investor who has there money refunded from a failed syndicate will not be too dissapointed by the experience and re invest in the industry.

I noticed a horse still being advertised on thetrots.com over 12mths after initially advertised - thus my suggestion