Investors who failed to get the full allocation of Telecom Eireann shares they subscribed for are being offered a range of homes for their surplus funds by various Irish institutions.

A plethora of managed funds, tracker and other bonds have been launched as an alternative to low-interest rate deposit accounts, but investors who are in the market for such a vehicle should tread carefully to ensure they select the right one for them.

All the main banks and building societies are offering managed funds products where they invest your funds in a range of equities, property and guilts for a fee. These funds are suitable to investors who can afford to lock away their funds for at least five years and you should shop around for those which offer the most competitive charges and management fees.

If you feel you will need access to your money in the short-term, there are also a range of interest-earning bonds which typically invest money for between two and five years and in some cases guarantee your capital, so the element of risk is reduced.