Partners acquire a share in each horse and are thus the owners of it. KVT manages the horses and the partnerships on their behalf. Annual accounts are prepared and sent to each partner. The aim is to have fun and to socialise with other like-minded people at an affordable cost; this is not an investment. Some horses are sold at two and most by the end of their three-year-old season so that commitments are not open-ended. We have a transparent contract and all prize-money and over budgeting is returned to the owners.