Frequently Asked Questions

An overview is provided in the Fortuna Information Memorandum. Please click here to view this document.

Once you have contacted us in regards to purchasing a share, an information pack will be sent to you by email or post ( depending on your preference). This pack will contain everything you need to proceed, including a full New Zealand Thoroughbred (NZTR) approved Disclosure Statement and Syndicate Agreement. All of this information is approved by NZTR before it is offered to potential clients. If you choose to proceed with a share after reviewing the material, all you need to do is complete the forms contained in the pack and return to us with your initial payment. If you require more information just contact our office and we will assist you.

As a Syndicate Member, you own a share in the horse and will be registered as an owner with NZ Thoroughbred Racing. Your Owner’s Privileges include race day entry and Owner’s/Member’s tickets on race days. You will also be able to nominate a name for your horse along with the other Members and then participate in a vote for the horses final name.In addition, you are very welcome to come and watch your horse when it trials or at morning track work or visit it at the Training Stables. You will also have direct access to Fortuna Director, John Galvin, via cellphone or email and your comments, queries and input are always welcomed.

It is impossible and impractical to manage a thoroughbred’s racing programme by “committee.” Fortuna horses are selected, trained and managed by professionals with many years of experience at the highest level. Your Trainer and Manager will have responsibility for your horse’s training and racing programme. However, high quality communication is the hallmark of both Fortuna and its training establishment, Te Akau Racing Stables and you will always and constantly be kept in the loop with respect to every aspect of your horse’s training and racing programme with full explanations given about all decisions.

Fortuna engages one of the very best judges in the business, David Ellis of Te Akau Racing to selct suitable Thoroughbreds for its Syndicates. Over many years, David has established himself as a fine judge of the Thoroughbred and is one of the largest buyers of yearlings at the New Zealand Thoroughbred Sales. David searches for suitable thoroughbreds for Fortuna according to a range of criteria including good pedigree, size and scope, price range and, most importantly, athleticism. Horses are only considered if they have passed a pre-sales veterinary examination and are presented with clean x-rays and wind pipe scope reports.

The Initial share price includes the coast of the horse, GST, insurance coverage for a 12 month period, Promoters fee, a Marketing contribution Fee, Karaka Million Race Entry Fee (if appropriate), Vet Examination fee and Independent Valuers Fee. The initial share price will also include a healthy amount for working capital. Full detail of all of these expenses are outlined in the Disclosure Statement and the Syndicate Agreement. Shares are usually available in 5% parcels but, of course, you can aquire more than one share.

It costs about $32,000 per anum to race a horse. This includes training, spelling, trial and race day nominations fees, transportation, routine vet fees and administration expenses. However, in the event that your horse is very successful, it may well be nominated for “elite” racing such as Listed and Group races. Typically, nomination fees for these events are much higher than for ordinary race day events and, of course, the prize money is much higher also. This is a nice problem to have of course and the funding for these additional nomination fees will come from prize money already won.Fortuna raises the ongoing expenses from its Members by regular Automatic Payments from the Members to the Syndicate bank account. The monthly payment for a 5% share is currently $140 per month. Some months, such as when your horse is spelling and costs are lower, the amount collected is more than required; other months, such as when your horse is in full training, it will be less, but over a twelve month period, the monthly payments will normally cover all expenses.

Yes, you can and Fortuna will provide you with all of the assistance you need in order to achieve a successful sale for you.

Once prize money is received to the Syndicate bank account, it will be paid out on a pro-rata basis to the Members. If, in the opinion of the Manager, some of this prize money needed to be retained in the Syndicate bank account (e.g to meet a nomination fees for an elite event), that decision will be relayed to you. Trophies and other paraphernalia (such as leads, bottles of wine etc) are often presented to the winners of successful horses as well. Your Manager will normally present such gifts to Syndicate Members using a ballot method. In the event of your horse winning an “elite” trophy, replicas can be purchased from the trophy manufacturer. Your Manager will advise you and assist you on such occasions.

There are two main risks. The first risk is that your horse lacks ability and is incapable of winning a race. Unfortunately, when we acquire a young horse, there is no way of knowing that as at that stage of their career, they have not been raced. We attempt to minimize that risk by focusing on what we call “type” leaning towards horses that are athletic, free moving and have good temperaments. The second risk is injury; the thoroughbred horse weighs around 500kgs and can gallop at speeds up to 60 kilometre per hour so injury can occur at any time. Some injuries simply require treatment, rest and rehabilitation, other injuries can be career ending and a severe injury may require the horse to be euthanized.All Fortuna horses are insured against death so in the event of an accident or injury that requires the horse to be put down, there will be a payout to the Members of the sum insured.

Fortuna prides itself on a very high level of communication. You will receive regular email or postal updates on your horse. These updates can range from two or three times in the week leading up to and following a raceday start to once every two or three weeks when your horse is spelling. Email updates will include links to video footage of your races, photos of your horse at trackwork, parading at the stables and from trial and race days. All Trainer’s pre and post race comments will be sent to you along with John Galvin’s own comments. Fortuna also publishes news items on its website, on Facebook and on Twitter. In addition to that, you are very welcome to make contact at any time with Fortuna Office Administrator, Deborah Mellow on “housekeeping” matters or John Galvin directly to discuss any matter relating to your horse.

Fortuna Ltd is a Limited Liability Company. Its Director, John Galvin, is an Authorised Thoroughbred Syndicator, approved as such by New Zealand Thoroughbred Racing. This Authorised status is reviewed by NZTR every two years. As an Authorised Syndicator, Fortuna and John Galvin abide completely by the NZTR Code of Practice established under the Securities Act (Bloodstock) Exemption Notice 2002.

Each Syndicate has its own bank account and details of all transactions are available to you at any time. Fortuna runs a high quality financial accounting computer programme for all of its Syndicates. Every quarter, a full financial report for the previous quarter will be sent to you by email or post (depending on your preference). In addition, all Syndicate annual accounts are prepared by a Chartered accountnat and then independently audited by a seperate Audit firm. These audited accounts are also forwarded to NZTR for their perusal and approval.