jimc99
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Post by jimc99 on Jul 7, 2015 6:53:09 GMT
I notice that some of the earlier Managed Portfolios contain several loan items that should by now have expired and been replaced by new items of equivalent value.
For example around 50% of the items STILL included in the Schedule for MP(CSP108) have expiry dates prior to the 7 July.
Should not the Schedule be maintained up to date on a pretty regular basis so that the investor are kept informed? I assume this is being done by Money Thing as otherwise the Managed Portfolios would quickly become unmanageable. If so it should be an easy matter to update the Schedule on the web site.
Does anyone else have any worries about this.
Could a representative of Money Thing explain how the Schedules are kept up to date and managed please.
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pom
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Post by pom on Jul 7, 2015 8:12:52 GMT
Personally I read the blurb and took it to mean they were providing an initial schedule for info but that as they'd be managing the portfolio for us we should take it with a pinch of salt as the exact contents would change over the life of the portfolio. So I wasn't expecting it to be maintained online - would be a complete pain to do with all those small items. Course I could be wrong  |
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rogerbu
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Post by rogerbu on Jul 7, 2015 8:36:21 GMT
I thought that the blurb clearly said that the published schedule would NOT be updated although within MT they would be. So no, I don't expect to see any updates.
I have no idea what I would do with the information if the schedules were updated - No SM etc
Ultimately. It is worth remembering that you are lending to MT not to an end borrower. So MT is a WL / SS model, not an RS, FC or FS model.
If MT doesn't bother to keep topping up the MSPs, we still hopefully get paid.
Working with MT requires a certain level of trust. So far, I think that most of the investor are are comfortable.
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SteveT
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Post by SteveT on Jul 7, 2015 8:44:02 GMT
I agree. Having an updated list of the current content of each MP on the website adds no value; the principle is that we lend to MT (who have lent to CS) against a basket of pawnshop loans of an agreed value which CS undertake to keep refreshed as individual items are redeemed / sold. Provided that CS keep MT informed of the ins and outs then I'd rather Ed focus his time on sourcing quality new lending opportunities.
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bugs4me
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Post by bugs4me on Jul 7, 2015 8:52:40 GMT
Updating the individual items within a MP would be a total PIA IMO and I cannot imagine how much time this would take MT to do. Agree with the general sentiment that I'd prefer Ed and his staff continue to pursue other lending opportunities.
So doesn't cause me any problems for things to remain as they are.
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arbster
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Post by arbster on Jul 7, 2015 10:21:26 GMT
+1 for more lending opportunities.
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Post by MoneyThing on Jul 7, 2015 12:36:15 GMT
Afternoon,
Will provide feedback/comment on this topic in the morning once I am back on the Island.
In summary, a lot of technical work has been done and is now complete (as of yesterday), to be able to manage this a lot more efficiently. As a result we will now be able to provide updates on the contents of each MP. (Behind the scenes this is undertaken on a daily basis).
This body of work was done as it was getting unwieldy to manage and thus we are now able to scale this much better.
Will pop back on here tomorrow to discuss the details (timing of updates and frequency).
Regards,
Ed
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Post by MoneyThing on Jul 7, 2015 18:29:11 GMT
Afternoon, Will provide feedback/comment on this topic in the morning once I am back on the Island. In summary, a lot of technical work has been done and is now complete (as of yesterday), to be able to manage this a lot more efficiently. As a result we will now be able to provide updates on the contents of each MP. (Behind the scenes this is undertaken on a daily basis). This body of work was done as it was getting unwieldy to manage and thus we are now able to scale this much better. Will pop back on here tomorrow to discuss the details (timing of updates and frequency). Regards, Ed Evening, Following on from the above, we plan to update all the PDFs for each of the MPs on a monthly basis at the same time and will probably pick sometime during the first week. There will be slight variations in terms of timing but will title the schedule to show when it was last updated. Please note that the schedule will only show a snapshot of the loans used in the MP at that time as it would be too time consuming to show all the renewed/defaulted/redeemed loans and their corresponding replacements. Kind regards, Ed
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Investor
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Post by Investor on Jul 7, 2015 21:51:24 GMT
MoneyThing (Ed) Like many I would have a preference for MT's time and effort to be utilised on finding new lending opportunities rather than producing what I deem unneccesary paperwork that it most likely out of date by the time it is uploaded to the website. Might be worth an online poll to get a feel for how the majority feel before committing to providing data that I for one would have no interest in reading. Once there are 100+ concurrent MP's live this will just become an onerous task in my opinion, and more likely to stunt the growth I think lenders may be hoping for. rgds
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star dust
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Post by star dust on Jul 7, 2015 23:20:28 GMT
I'd agree with that. I'm happy that they are being managed and don't feel the need for monthly updates. However, if you decide to 'roll' any of them for a further period (six months?) then I'd suggest a new/ updated list is provided at the time of renewal.
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jonbvn
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Post by jonbvn on Jul 8, 2015 7:32:56 GMT
I am with the consensus on this thread.
I just don't see the value of the updated list of the contents of each MP. What am I going to do with this information? The only possible benefit I can see, is if I there is a SM and any buyers would want to see the what a MP contained as part of their due diligence.
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arbster
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Post by arbster on Jul 8, 2015 7:33:23 GMT
I get the sense, from Ed's posts, that the "behind the scenes" work is ongoing anyway, possibly as BAU management of the underlying businesses that hold the assets/asset details, and that the technical work that is being done will simply enable this data to be surfaced to lenders. Thus, our fears that this might distract from finding new lending opportunities may be unfounded.
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Post by uncletone on Jul 8, 2015 8:04:56 GMT
Time, I think, for a summary, just to clarify everything so far: If MT, which is a WL/SS model not an RS, FC or FS model that lends to CS, plans to update the PDFs of the contents of the MPs, possibly as BAU management, it might be useful to an SM. IMO. OK? rgds ::sigh::  |
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Post by MoneyThing on Jul 8, 2015 8:11:02 GMT
Morning,
Many thanks for all your comments.
Whilst the new system makes life a lot easier to undertake the daily matching/replacements, it will still require as to undertake an export from this, segregate and produce & upload individual PDF's against each Portfolio. It is not a particularly onerous job but will take a little while and if the majority of investors will not benefit from it then I would be happy to drop it.
I like the suggestion with regards to just producing an updated schedule upon the 6 month anniversary/renewal of each of the Portfolios.
I will put it to the vote shortly...
Kind regards,
Ed
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jonbvn
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Post by jonbvn on Jul 8, 2015 8:16:34 GMT
Time, I think, for a summary, just to clarify everything so far: If MT, which is a WL/SS model not an RS, FC or FS model that lends to CS, plans to update the PDFs of the contents of the MPs, possibly as BAU management, it might be useful to an SM. IMO. OK? rgds ::sigh:: Reminds me of this classic Robin Williams film. www.youtube.com/watch?v=H_aiDDU5z18
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