mjc
Member of DD Central
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Post by mjc on Nov 4, 2018 10:12:47 GMT
Thanks Steve for speedy and detailed reply, yes that name confuses many a man in the street.
AC state there IS a provision fund for the QAA & 30D a/c :-
“Interest is quoted gross and is capped at the quoted rate although actual returns could be lower. Target interest rates should be considered along with the relevant investment account expected defaults and losses. Annualised projected return after expected losses for the QAA is currently 4.1% gross (based on stress testing of the QAA's Provision Fund - see here for further information) . Past performance does not guarantee future performance. Access times relate to withdrawals in normal market conditions but cannot be guaranteed. This is an investment in peer-to-peer loans - it is not a bank account. Investment in peer-to-peer loans is not protected by the Financial Services Compensation Scheme (FSCS). Capital is at risk.“
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IFISAcava
Member of DD Central
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Post by IFISAcava on Nov 4, 2018 10:39:47 GMT
Thanks Steve for speedy and detailed reply, yes that name confuses many a man in the street. AC state there IS a provision fund for the QAA & 30D a/c :- “Interest is quoted gross and is capped at the quoted rate although actual returns could be lower. Target interest rates should be considered along with the relevant investment account expected defaults and losses. Annualised projected return after expected losses for the QAA is currently 4.1% gross (based on stress testing of the QAA's Provision Fund - see here for further information) . Past performance does not guarantee future performance. Access times relate to withdrawals in normal market conditions but cannot be guaranteed. This is an investment in peer-to-peer loans - it is not a bank account. Investment in peer-to-peer loans is not protected by the Financial Services Compensation Scheme (FSCS). Capital is at risk.“ Not quite sure what the precise difference is between "a provision fund" and "cash", other than the latter is used instantly and the former has to wait before deployment. Isn't it the same underlying money-stuff at the end of the day?
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IFISAcava
Member of DD Central
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Post by IFISAcava on Nov 4, 2018 11:40:23 GMT
Reviewed; Nov 2018 cf Nov 2017
2018 2017
AC 19.7% 11.0%
HNW 13.4% 12.1%
Proplend 13.3% 6.6%
ABL 10.8% 4.3%
LW 7.2% 4.4%
LLI 6.6% 2.9%
Archover 6.6% 4.3%
C2F 3.8% 3.8%
Relendex 3.4% 1.7%
LC 2.9% 2.8%
Unbolted 2.9% 3.5%
All others <2% each (MT, Abundance, RS, Crowdstacker, PropertyCrowd, ORCA, Wellesley, Basset & Gold, Lend-a-Hand + residuals stuck in FS, Lendy, COL, FC).
Main reductions: FS (was 6.3%), Kuflink (was 4.3%), COL (was 3.4%, reduced to 1.5% before administration)
Platforms exited completely: Wisealpha, Landbay, GS, Capital Rise, Huddle, Goji, Mintos, Kuflink, BM
Total current platforms: 16 active, 4 in drawdown/fixed term (PC, ORCA, Wellesley, B&G), 4 with residual stuck funds (FS, Lendy, COL, FC)
91.3% of P2P now within IFISAs
Temporarily overweight in AC due to cashback offers. Plan is to rediversify after June 2019.
P2P forms 37.5% of overall investments (excluding house and pension) - aim is ~30% longer term, Now dripfeeding back into S&S having taken significant profits from current bull market. Current aggregate gross yield 8.79% (before defaults) estimated net yield after bad debt provision (with biggest likely current hits COL and AC GEIA) 7.64%
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ceejay
Posts: 975 
Likes: 1,149
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Post by ceejay on Nov 4, 2018 14:09:32 GMT
AC 52% - overweight, will be reduced AB 3% - and falling. Love AB, hate the lack of loans. FC 0.02% - just a couple of "late" loans on the books. More in default which might come back one day. GS 14% - I find this a useful balancing pot COL 2% - or less, depending on how things go RS 29% - I keep changing my mind about RS. Decent rates at the moment, but I have abandoned my ISA with them as I don't think this works
Altogether about 20% of my manageable assets. Or slightly more this month, given the way that S&S are behaving!
No more than 0.5% of P2P funds with any one borrower, more or less (as far as I can tell, given that RS and GS are opaque!).
I could do with another home for P2P funds that I feel comfortable with, but haven't seen one yet. The last one I tried out was COL...
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Post by Deleted on Nov 4, 2018 22:40:54 GMT
We have ISA eligible investments now available, please see our Chiltern Bond range: www.bondmason.com/chiltern-bondcoPlease note, as these have an equity cushion, their returns are similar to Ratesetter, rather than the higher return available from BondMason Core service. Thanks stevefindlay , I was aware of the Chiltern Bond range release and I may well look to transfer in next year as my ISA allowance is accounted for this year. One year on my P2P landscape has evolved and in Ratesetter transformed to take advantage of a transfer in offer on top of currently high rates! 2017
Lending Works 22%
Landbay 16%
Ratesetter 15%
Moneything 13%
Lendy 13%
Abundance 7%
Goji 7%
Zopa 6%
2018
Ratesetter 39% (stupidly and temporarily high)
Lending Works 16% (consistent performer, great rates)
Goji 9% (again probably too high. like the diversification but not the nature of the bonds)
Assetz 7% (will increase when I reduce Ratesetter)
Landbay 7% (nothing exciting but a steady performer)
Moneything 6% (decent default handling of late, will increase if loan flow does)
Lendy 6% (winding down what I can, as are Lendy!)
Abundance 5% (will either make a packet or lose a skinful, either way it's feel good loans)
Orca 3% (initially bonus hunting, may hang around if they offer platforms I can't personally access)
Zopa 2% (winding down remaining safeguard products)
I also have the equivalent of 18% in Property Partner which I tend to consider separately.
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Post by stevefindlay on Nov 5, 2018 19:59:34 GMT
Thanks Steve for speedy and detailed reply, yes that name confuses many a man in the street. AC state there IS a provision fund for the QAA & 30D a/c :- “Interest is quoted gross and is capped at the quoted rate although actual returns could be lower. Target interest rates should be considered along with the relevant investment account expected defaults and losses. Annualised projected return after expected losses for the QAA is currently 4.1% gross (based on stress testing of the QAA's Provision Fund - see here for further information) . Past performance does not guarantee future performance. Access times relate to withdrawals in normal market conditions but cannot be guaranteed. This is an investment in peer-to-peer loans - it is not a bank account. Investment in peer-to-peer loans is not protected by the Financial Services Compensation Scheme (FSCS). Capital is at risk.“ Not quite sure what the precise difference is between "a provision fund" and "cash", other than the latter is used instantly and the former has to wait before deployment. Isn't it the same underlying money-stuff at the end of the day? There should be a subtle but important difference: - 'cash' is uninvested funds, waiting to be invested. - a 'provision fund' is money set aside to be used to support performance in the event of defaults etc. Yes, it may be held as cash, but it should be held in a different pot to the fund. Consider an example: The fund/account starts with £100. At the end of the year the fund has generated a total return of £6, of which £4 is for investors, with the further £2 set aside for the provision fund. Out of £104, let's assume £95 is invested in loans, leaving £9 in cash. The £2 provision will also be held as cash (or investments), but is held outside of the £104. So, you have £9 in 'cash' and £2 in the 'provision fund'. The platform shouldn't really keep the £9 and £2 together in the same pot, as its different. The £9 is part of the fund at all times. The £2 should be held subject to committee/trustee oversight. It will only be released back to the fund if the committee/trustees decide it is the appropriate thing to do. Hope that clears it up!
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