Working With Rails

Sharesight

Location: New Zealand, Wellington

Finally, the DIY share investor has a straightforward, affordable and independent online service that calculates their true share returns. It also automatically produces the information to fulfil accounting and IRD tax requirements.

Sharesight (www.sharesight.co.nz) is a new online share portfolio management tool developed in Wellington for the New Zealand and Australian markets. It already has the backing of the NZX, which has welcomed such an accessible and independent management tool.

Sharesight Managing Director Tony Ryburn says the website was born out of personal frustration at managing his own share portfolio. “Despite being a professional who analysed investment opportunities for companies and banks, I found keeping track of my own share investments a time-consuming nuisance. Even with an accountant, I still had to prepare the basic share data for tax returns and family trust annual accounts.”

Mr Ryburn said, even worse, he did not really know the true performance of his portfolio and did not have enough data to properly assess the performance of shares he might purchase in the future. Sharesight solves this problem by giving users up to date information on their investments taking into account currency fluctuations, dividends and more.

Because it was developed by software developers who are also share investors, the site is intuitive and easy to use. Being under continual development, users’ needs can be easily met.

A substantial share portfolio can be recorded in Sharesight in a few minutes because most of the required information is entered automatically from historic and current data provided by the NZX and ASX. Each customer’s data is backed up and stored securely.

NZX Chief Executive Mark Weldon said NZX was delighted to support Sharesight.

“In New Zealand, the share market is an under-rated investment choice for private investors. What we need here is more tools that make it an easy option. And that is exactly what Sharesight delivers. Anything that takes the time and guess work out of share investment is extremely welcome,” Mr Weldon said.

Internet entrepreneur, and Xero Chief Executive Rod Drury agrees that Sharesight is “looking very slick”. “I’ve been looking for a Web 2.0 style portfolio manager and this looks like it will hit the spot.”

Currently, Sharesight is offering a one-month free membership to all users then monthly fees start from as little as $5.

Homepage: http://www.sharesight.co.nz