Australia’s newest horse racing syndication company opens for business this weekend, and in a clever piece of marketing, its product is aimed directly at the budget conscious prospective racehorse owner. Rather uniquely, every horse that the company syndicates is offered into 20 shares at a ‘grand’ ($1000) each - hence the very appropriate name of the business.
The man behind Grand Syndicates is Peter Morley - one of the most experienced racehorse syndicators in Australia who is now in his 17th year of offering shares in racehorses to the public.
“Post GFC, I’ve seen a definite need to lower the bar when it comes to attracting new people into the industry as owners” Peter explained earlier today. “People have been careful with their money over the last few years and still are, and you can’t blame them for that, so I’ve created a new business with a bit of a difference. The only product we sell is 20 share racing syndicates where all the shares are a thousand dollars each and the syndicate fees are fixed and capped at six dollars a day-guaranteed no more to pay. Most of our horses will be purchased in the $5,000-$15,000 price range. In our brochures is a comprehensive list of successful racehorses that have been purchased for $20,000 or less that have gone on to win good races. Some of them such as SHOOT OUT, PRIVATE STEER, SINCERO, LADY LYNETTE and the like have won over a million dollars in prizemoney - so we’re after one of them. Let’s hope we get lucky!” said Peter.
The new company will be offering shares in horses in New South Wales, Victoria, Queensland and WA and the first of their syndications can be seen on their website at www.grandsyndicates.com.au