happy
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Post by happy on Dec 15, 2016 16:56:13 GMT
My GEIA has today randomly sold around £100 of a +£500 holding (less than 10% of total GEIA) in one of the recent windmill loans without me requesting any withdrawal. I have never seen this before and cannot see why the GEIA should ever sell anything in my account without me asking for a withdrawal. Anyone seen this before or got any ideas why.
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jj
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Jolly Jammy
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Post by jj on Dec 15, 2016 17:41:26 GMT
358 ?
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Post by valerieb on Dec 15, 2016 17:55:37 GMT
Same here. Just logged in to check whether any of my queueing cash in the Green Account had been allocated and was very surprised to discover some £46 of loan parts had been sold; so now even more money awaiting allocation. I've only started moving cash into this account recently and haven't been following any chat here about this account so would welcome enlightenment as to whether getting money allocated is normally a lengthy process. I'd glibbly assumed that with a recent glut of windmill loans, this wouldn't be an issue; obviously I was wrong!
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Post by valerieb on Dec 15, 2016 17:58:41 GMT
Just checked, yes it was 358.
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Post by steelspanner on Dec 15, 2016 18:02:04 GMT
Like wise, £94 from loan 358.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Dec 15, 2016 18:07:59 GMT
What I think has happened is this allocation has been taking out if the GEIA and put into the MILA account by mistake because I got an allocation of this loan this morning in my MILA account.
When the interest accured was purged last night the Interest rate on the account when from 8% to 0%. Now AC must have corrected this back to 8% and made the error then.
I am all for forgiving errors but errors are not free. AC needs to reimburse the GEIA account with a share of the loan from the QAA or/and 30 days account.
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jjc
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Post by jjc on Dec 15, 2016 18:15:09 GMT
Just a guess but might the repayment of 160 (bug plant) have led to the green monster algorithm kicking units out of GEIA to keep to its diversification limits?
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Post by valerieb on Dec 15, 2016 18:34:33 GMT
Yes, I did wonder whether it was something to do with algorithms/diversification. Although I haven't been following this account closely, having simply dumped some cash in it out of frustration at the way unallocated cash was building up in the manual account, diversification is obviously an issue; of my cash that has been allocated, more than 30% seems to be in just one loan. I wouldn't have been quite so irritated if £46 of that loan had been sold. By the way, my account likes buying £0.00 parts of loans, sometimes allocating £0.01 to do so!
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investibod
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Post by investibod on Dec 15, 2016 19:18:31 GMT
Yes, I did wonder whether it was something to do with algorithms/diversification. Although I haven't been following this account closely, having simply dumped some cash in it out of frustration at the way unallocated cash was building up in the manual account, diversification is obviously an issue; of my cash that has been allocated, more than 30% seems to be in just one loan. I wouldn't have been quite so irritated if £46 of that loan had been sold. By the way, my account likes buying £0.00 parts of loans, sometimes allocating £0.01 to do so! I do not think that it will be diversification. When I first started with AC, there was only 1 loan eligible for GEIA which had availability. So I manipulated things to overcome the 20% limit. I temporarily added extra money to my GEIA until I had bought as much of the loan. Then I moved the surplus to my MLIA, leaving my GEIA with about 50% in 1 loan.
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happy
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Post by happy on Dec 15, 2016 21:43:04 GMT
On further inspection this definately looks like a re-allocation of #358 loan units from GEIA to MLIA and not any diversification process. I happened to have a MLIA buy order on 358 and sure enough it has bought some at the same time the GEIA sold. Never seen this happen before, most strange....
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jonah
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Post by jonah on Dec 15, 2016 22:21:57 GMT
On further inspection this definately looks like a re-allocation of #358 loan units from GEIA to MLIA and not any diversification process. I happened to have a MLIA buy order on 358 and sure enough it has bought some at the same time the GEIA sold. Never seen this happen before, most strange....Geia has an overall number per loan as a maximum. That could have been reduced down for some reason, causing our accounts to reduce by a proportion to match. Or if a loan stops being Geia eligible all parts are sold. There used to be an issue with that happening when loans went to 0% rates but I thought I'd read somewhere on here that that had been fixed.
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