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Post by gravitykillz on Dec 9, 2018 19:38:22 GMT
I am mainly invested in RS and LW but was thinking to diversify and put some funds in GS. Was wondering if anyone has feedback about investing in gs? Is it worth a punt ?
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Post by Ace on Dec 9, 2018 21:54:03 GMT
GS seems ok to me for a bit of diversification. They pay a decent rate for a 30 day account.
I was worried that having to reinvest all capital every month might cause too much cash drag, but it hasn't really been an issue for me. I've only invested since March 2018. My XIRR.is 5.14%.
I believe that some people spread their initial investment through the first month so that a proportion is readily available at shorter notice. E.g. Invest a quarter of your capital each week for 4 weeks, so that a quarter of your pot is never more that 8 days to maturity.
They have run referral schemes in the past, so might be worth contacting them to see if any are planned for the near future.
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Post by nesako on Dec 9, 2018 22:39:54 GMT
I am mainly invested in RS and LW but was thinking to diversify and put some funds in GS. Was wondering if anyone has feedback about investing in gs? Is it worth a punt ? I have been investing with them from almost the very start and have no complaints at all. As long as they keep the provision fund levels up, I will keep investing. Founders are still adding fresh money in, so all good so far. I have PM'ed you the details of the new investor bonus they have with a link - in summary, you need to invest £5000+ for a year to get £200 bonus.
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elliotn
Member of DD Central
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Post by elliotn on Dec 10, 2018 1:39:30 GMT
I’ve just registered. Re PF, it’s net 72k cost to date versus 1.1M paid in from the SH (wealthy VCs) ie 15x cover at current run rate.
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ceejay
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Post by ceejay on Dec 10, 2018 9:23:57 GMT
I am mainly invested in RS and LW but was thinking to diversify and put some funds in GS. Was wondering if anyone has feedback about investing in gs? Is it worth a punt ? I was similarly looking for some platform diversification and have been using GS for a bit less than a year. So far, so good. Cash drag on reinvestment has varied but, on average, has been short. My XIRR is 5.2% if I include accrued interest.
What I like about this platform is that their borrowers are different from the ones you're likely to find at RS, so gives borrower diversification as well as platform.
I have made a couple of withdrawals - just turn off reinvestment, wait for the right amount of cash to roll up, then take out the cash and put reinvestment back on. This may involve a little more cash drag, of course.
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jsmill
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Post by jsmill on Dec 10, 2018 14:55:29 GMT
I agree with the majority of posters on here. One of my larger p2p holdings these days. However, in my view there are a couple of points to be aware of. 1) Still needs scale. There have been positive trends recently in terms of borrower numbers but this needs to continue; and 2) Data, the statistics are not kept up to date. I have made this point on another thread that it really should be the basics to be able to manage monthly updates. My concern is if they are not able to keep pace with this are they adequately resourced as a business generally and what else could be getting missed.
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Post by df on Dec 10, 2018 15:17:05 GMT
I am mainly invested in RS and LW but was thinking to diversify and put some funds in GS. Was wondering if anyone has feedback about investing in gs? Is it worth a punt ? I signed up in May 2017. There were some problems at the beginning, but they fixed them pretty quickly. Overall I've had no problems with GS. I earn the rate they promise and haven't lost a penny. I kept adding more and more funds and now it is my second platform (14% of my p2p funds). IMO if one is aiming to diversify over less risky platforms with easy exit strategy and happy with 5%-6.5% return, spreading funds across AC(30-day), LW, RS and GS is a good recipe.
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Monetus
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Post by Monetus on Dec 10, 2018 15:19:29 GMT
I'm very new to GS but it seems pretty good so far and a nice diversification away from property. I like the 30 day loans with easy access.
They've reeled me in with their Winter Bonus offering 2% cashback so I'm currently adding a little more.
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Steerpike
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Post by Steerpike on Dec 10, 2018 15:40:43 GMT
I have been investing since Jan-17 and XIRR is 5.26% excluding referral bonus.
The current up to 2% reward bonus on up to £100k is payable on deposits made before 14-Dec-18 and is payable at the end of December 2019 and I believe applies to existing investors only.
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Post by p2plender on Dec 11, 2018 13:38:15 GMT
money getting tied up for a year though!
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Post by dan1 on Dec 11, 2018 17:00:47 GMT
money getting tied up for a year though! Not tied up but tied in I'd suggest! Semantics!
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Monetus
Member of DD Central
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Post by Monetus on Dec 11, 2018 17:08:26 GMT
money getting tied up for a year though! Not tied up but tied in I'd suggest! Semantics! Compared to some of my Lendy and FS loans.... a year is a godsend! 
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Post by df on Dec 13, 2018 22:56:50 GMT
Not tied up but tied in I'd suggest! Semantics! Compared to some of my Lendy and FS loans.... a year is a godsend! Not even comparable. I think the notion is about loosing your bonus if you go below your invested capital. You can withdraw your funds+interest in 30 days.
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Post by p2plender on Dec 14, 2018 5:41:27 GMT
One gripe is the way they pulled rates down to present. We started around 6.3. Would prefer an increase in rates instead of attracting cash via bonuses.
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pom
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Post by pom on Dec 15, 2018 14:02:01 GMT
One gripe is the way they pulled rates down to present. We started around 6.3. Would prefer an increase in rates instead of attracting cash via bonuses. For now (while I'm still invested by less than an amount I might consider "too much" for a single platform) I'm happy with them offering bonuses over increased rates given they're tax free. Given my GS investment has only increased over this last 12 months because of interest and bonus schemes it is slightly alarming to realise that if I take up the new Dec 2018 rollover bonus offer my total will have increased by over 3x in a year - clearly I won't be able to continue forever. So I guess it could be declared as a little unfair on the smaller investor who can't keep increasing, but hey ho.
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