Percentage spread of your funds across P2P Platforms

Assetz	27.5%	steady
ZOPA	23.25%	steady
Bondmason	17.33%	slowly increasing
Octopus Choice	14.75%	slowly increasing
Funding Circle	8.5%	slowly decreasing
ReBS	4%	abandoning sinking ship
Funding Knight	3.66%	hoping they'll come back
Ratesetter	1%

I used to have a lot more in FC, ReBS, FK and RS, whereas a year ago Bondmason and Octopus Choice were not in the picture at all. 

This could be seen as a move away from excessive risk and towards relative security but I see it more as a move away from poorly-run platforms and towards better-run platforms (the exception being FK, who in my opinion were probably the best-run platform but who are not presently offering new business). This may (should?) of course amount to the same thing!

COLLATERAL (110 loans) - 46.2%
MONEYTHING (77 loans) - 45.5%
LENDING WORKS (IFISA) - 8.3%

Was in RS but withdrew earlier this year - although they sent me a letter on Saturday asking if I wanted to return!

One year later:
AC - 18%
FS - 7%
FC - <1%
COL - 6%
Zopa - 3%
Ly - 3%
MT - 5%
UB - 8%
LC - 9%
RS - 6%
GS - 14%
Landbay - withdrawn
Abl - 4%
Rebs - <1%
HC - <1%
BM - 9%
Welendus - 3%
LW - 2%

I would break out into a cold sweat at tax return time

That's a good position to be in.  I'm trying to stay well below 0.5%, but sometimes it is very difficult to identify the same borrower (for example "paintings" borrower on FS).  How do you deal with over exposure on Unbolted? I've set my limits very high and keep my cash limits higher that I'm willing to invest in a single loan in order to get a bit more of larger loans and it worked perfectly for a long time, but recently all my available cash was swallowed by a single loan. Not a big deal, because it is protected and still below 0.5%, but if I had more cash on the platform I could've gone above my self-imposed exposure limit. 

I don't look too closely at Unbolted, i just use auto invest and treat it as set and forget, similarly for Assetz and Growth Street. 

'Absolute Return' is an investment management strategy which 'seeks to achieve a positive return in all (equity) market conditions'. This is the 3rd biggest strategy by AUM in the UK.

Our bonds seek to achieve the same: a small return (relative to equity markets), but consistent regardless of equity volatility and cycles.

And yes, your CAPITAL IS AT RISK. As it is with any Non-FSCS deposit protected investment.

Fees: there is a single fee for ISA investors at the end of term, if the investor transfers out or closes their account - ie doesn't invest in another bond in the range. These are fees imposed by a third party (they charge others, but we don't pass those on). There are no fees outside of the ISA wrapper.

Death: that is one of the few times you would be able to make an early encashment. We would waive any fees in these circumstances.

HL SIPP: unlikely. We've not discuss it with HL recently, but it is likely to be classified as a non standard asset. And so sit outside of their criteria.

Vs AC QAA: our understanding is that the AC account holds a portion of investor funds in cash to facilitate liquidity, but this increases cash drag and lowers the rate of return. To the best of our knowledge there isnt an equity buffer (or first loss provision) held by AC to protect investors in this account.

The Absolute Return Bonds have an equity cushion of up to 2% - currently being built up - which is set at 5x the total losses across BM over the last 3 years. The equity cushion should enable the returns to be hit with greater certainty than the AC account target.