stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 30, 2018 12:38:07 GMT
Chuck another £10k in then😁 Go on! You know you want to. I can't. Have used all this years allowance. However, am thinking of opening an account in my wife's name and then transferring in part of her last years allowance?? Just need to hold back a bit and see how the first £10k performs.
I guess navy larks are always cautious followers as they are in battle. RAF first!😉
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Post by skint4achange on Jan 30, 2018 13:01:00 GMT
I can't. Have used all this years allowance. However, am thinking of opening an account in my wife's name and then transferring in part of her last years allowance?? Just need to hold back a bit and see how the first £10k performs.
I guess navy larks are always cautious followers as they are in battle. RAF first!😉 Now that is a bit rich, you can't say you are the first into battle! Sending one Rupert off in a jet while 65 ground support staff go back to the hotel for a dip in the pool isn't exactly going into battle! 
Now, if it was battle of the sun loungers, you would certainly win there, crab fats!
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stub8535
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personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
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Post by stub8535 on Jan 30, 2018 23:41:33 GMT
I guess navy larks are always cautious followers as they are in battle. RAF first!😉 Now that is a bit rich, you can't say you are the first into battle! Sending one Rupert off in a jet while 65 ground support staff go back to the hotel for a dip in the pool isn't exactly going into battle!
Now, if it was battle of the sun loungers, you would certainly win there, crab fats!
I knew that would get a rise out of you😂
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Post by Michal on Jan 31, 2018 16:44:33 GMT
Hi puddleduck , skint4achange Thanks both for the feedback. That's correct skint4achange , fundamentally while the overall fees are set 0.95%, Goji’s fee will never exceed investor returns. There are lots of details around this on our FAQs page too so please feel free to have a look. puddleduck , you may be aware already but just for clarity the 5% target return is after fees and bad debts. Our first 12-month bond matured this month and achieved just over 6% after fees and bad debts. I hope this helps clarify in more detail the fees and target return position but please feel free as ever to keep feeding back here or directly to us on customersupport@goji.investments! Many thanks Michal Hi Michal Thanks for the reply - my question isn't in the FAQ (and it probably isn't a FAQ..) but one of the issues I see in P2P is over-exposure to certain borrowers - for example borrowers may have multiple loans under various Ltd companies, SPVs etc etc and have many loans with multiple platforms. Are you screening for this sort of thing in your selection of loans on the platforms you cover? To crystalise my question - do you have any mechanism to avoid over-exposure to borrowers who borrow from multiple platforms? Is this something that has been considered? Thanks Hi puddleduckThanks for your reply. Your concern is something we’re very aware of and something we know the industry as a whole is working hard to tackle. At Goji, this risk is significantly mitigated as we carefully select lending partners (direct lenders) who specialise in specific asset classes and sectors. Five of our current seven lending partners operate in entirely different asset classes and sectors, therefore the likelihood of having a particular borrow appear in multiple lending partners in one of our bonds is remote. As an additional measure, our investment algorithm will check exposure by borrower to ensure each bond is not overly investing in a single borrower. We recognise that this will never wholly remove the risk that a borrower has set up multiple vehicles/SPVs in applications with multiple platforms; however, this risk is primarily mitigated through the lending partner sector split mentioned above. Many thanks Michal
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Post by skint4achange on Mar 20, 2018 19:19:52 GMT
3 months in and here is my latest views of the Goji IFISA.
Having invested £10k I now find that after 3 months I have made £117.33p in gains and settled £18.80p of Goji fees. This gives me a current gain of just under 1%.
Ok, so far this is what I expected. Small gains to start until the bullet loans pay back and some of the longer term investments mature. So far, so good.
Now, it's not all roses, just a couple of points that are niggling me about this.
1. There is no breakdown of the figures. To illustrate what I mean, I recently logged in and saw that my balance was £xxxxx.xx but when I logged in 4 hours later the balance was lower? Not by much, just a couple of pounds, but as I cannot see a list of transactions on the account, I cannot work out what happened.
2. The fees were supposed to be taken monthly at 0.95% but that hasn't worked out to be quite true. No fees were taken until after about 2 months. You might say that this is good but I cannot work out how the fees relate to 0.95% per month on the investment total no matter how hard I look into it. Now, I am 3 months and 2 days into my IFISA and the fees have not increased. So when are the fees taken?
This is the only issue I currently have. The transparency of what is happening in your account is not there. I am a bit of a control freak when it comes to money so I personally would like to see more transaction breakdown and where the money is coming from/going to. But then again, how many other ISA products allow you to see where money has gone/come from?
Apart from that, all is well and the value is increasing in line with what I expected.
More updates to follow.
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littleoldlady
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Post by littleoldlady on Mar 22, 2018 10:55:46 GMT
I invested on 26.7.17 and am currently showing a gain of 2.81% after (almost) 8 months equivalent to 4.22%pa so achieving their target of 5% looks unlikely. But the last time I looked I was up 2.63% after 6 months so in line with targeted 5%pa. There must have been a significant issue between 20.1 and 22.3 to account for growth of only 0.18% a rate of 1.08%pa. I agree that more transparency is needed on where funds are invested and any repayment issues. There is an interesting document giving more info than on the site we use (though I'm not sure if we are supposed to see it) at: s3-eu-west-1.amazonaws.com/investments.general-documents.gojip2p.com/LENDING_PARTNER_SHOWCASE.pdf |
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Post by skint4achange on Mar 22, 2018 12:40:08 GMT
I invested on 26.7.17 and am currently showing a gain of 2.81% after (almost) 8 months equivalent to 4.22%pa so achieving their target of 5% looks unlikely. But the last time I looked I was up 2.63% after 6 months so in line with targeted 5%pa. There must have been a significant issue between 20.1 and 22.3 to account for growth of only 0.18% a rate of 1.08%pa. I agree that more transparency is needed on where funds are invested and any repayment issues. There is an interesting document giving more info than on the site we use (though I'm not sure if we are supposed to see it) at: s3-eu-west-1.amazonaws.com/investments.general-documents.gojip2p.com/LENDING_PARTNER_SHOWCASE.pdfHopefully you will have a fair few bullet loans in the last 4 months.
I suppose as long as the 5% is forthcoming in the end, where the money is invested and how many defaults there have been along the way is irrelevant.
I think the IFISA managers are on a pretty good number also to be fair though. Not only do they get the 0.95% of your invested total but when the fund is finished at the end of the term there are probably a few defaults outstanding. These defaults will never come back to the original investor so basically any recoveries, no matter how far down the line, belong to the IFISA fund managers (Capital and interest). Depending on how much they are managing, that can be quite a significant amount over time. Do they care if there are only a few recoveries? No, it's all money in the pocket for no risk.
That last point was not a criticism, if I could get away with it I am pretty sure I would do it too!
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Post by Michal on Mar 26, 2018 9:15:54 GMT
Hi skint4achange littleoldladyTo clarify on your defaults point; at no point can the gain of any loan, or any subsequent recovery on the default of a loan, be taken by Goji. Our Bond Instrument (your investment agreement with us) is designed so that any arrears or recoveries in the five years after maturity of your bond will be repaid to you as the investor, in a timely manner. Our target bond return represents the net return we expect at the maturity date of your bond. Thank you also for the feedback on the gains visibility. We will be introducing more features to increase the amount of data available on the online portal. We understand this is useful for our users so we want to keep building up the user interface to promote transparency and data sharing. littleoldlady, whilst there haven't been any significant issues, some loans repay monthly while others repay at the end of their terms. This is why you may see seemingly less growth during a specific short period of time but then a larger subsequent jump. I hope that helps clarify these areas but please let us know if you have any follow up questions at all. We hope to continue engaging with you on these areas and receiving your invaluable feedback. Many thanks Michal |
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Post by skint4achange on Mar 26, 2018 15:16:33 GMT
As ever Michal, I can rely on you to clarify and confirm that actions are being taken on the points I raise.
Overall, my experience of Goji has been very positive. Long may that continue.
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pom
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Post by pom on Mar 31, 2018 12:13:01 GMT
I invested on 26.7.17 and am currently showing a gain of 2.81% after (almost) 8 months equivalent to 4.22%pa so achieving their target of 5% looks unlikely. But the last time I looked I was up 2.63% after 6 months so in line with targeted 5%pa. There must have been a significant issue between 20.1 and 22.3 to account for growth of only 0.18% a rate of 1.08%pa. I agree that more transparency is needed on where funds are invested and any repayment issues. There is an interesting document giving more info than on the site we use (though I'm not sure if we are supposed to see it) at: s3-eu-west-1.amazonaws.com/investments.general-documents.gojip2p.com/LENDING_PARTNER_SHOWCASE.pdfHopefully you will have a fair few bullet loans in the last 4 months.
As someone who's also in the same bond issue as littleoldlady I agree there's clearly been an issue and it must be down to more than just bullets. In the last 2 months my goji investment (initially 5k) has increased by a staggering £7.59. But when I look at the partners breakdown 2 of them jump out instantly as not being bullets... and the growth street holding alone should have increased it by 50% more than that, throw in the LendInvest holding as well and I could have expected it to be at least 3x as much depending on which LI loans they've actually invested in. So unless Goji were catching up on deducting their fees (I only say that because before they changed the layout it wasn't clear if the gains were gross or net), I can only assume some losses have already crystallised. Well I'd hope the returns will continue to improve over the last 4 months but I wouldn't want to make any bets right now as to whether we'll hit the target.
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Post by Michal on Apr 23, 2018 20:43:21 GMT
Hi everyone A quick post to let you know that we've just launched our latest website redesign! Please do check it out. We think it's much cleaner, crisp and functional - but you're the best judges of that, so all feedback welcome! And to go with it, we have our latest ISA early bird offer! www.goji.investments/isa-early-bird-offer/If you invest before May 31st 2018, we’ll give you 2% of the value of your investment at the end of the term. Terms & conditions apply.As usual, we'll be monitoring the forum regularly so please post any feedback or queries you may have. We're always grateful to hear your comments and happy to help! All the best Michal |
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littleoldlady
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Post by littleoldlady on Apr 24, 2018 6:35:42 GMT
Michal does the offer apply to transfers in from other IFISAs?
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Post by Michal on Apr 24, 2018 9:22:00 GMT
Hi littleoldladyYes, it will apply to funds coming in via an ISA transfer, as long as the transfer is started before 31st May. ISA transfers can be started by completing our online form in the Cash --> ISA Transfer section of your online portal. Kind regards Michal |
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littleoldlady
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Post by littleoldlady on May 1, 2018 20:42:42 GMT
I invested on 26.7.17 and am currently showing a gain of 2.81% after (almost) 8 months equivalent to 4.22%pa so achieving their target of 5% looks unlikely. But the last time I looked I was up 2.63% after 6 months so in line with targeted 5%pa. There must have been a significant issue between 20.1 and 22.3 to account for growth of only 0.18% a rate of 1.08%pa. I agree that more transparency is needed on where funds are invested and any repayment issues. Now showing growth of 3.2% equivalent to 4.25%pa, better but still not good enough.
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puddleduck
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Post by puddleduck on May 8, 2018 7:57:39 GMT
I invested on 26.7.17 and am currently showing a gain of 2.81% after (almost) 8 months equivalent to 4.22%pa so achieving their target of 5% looks unlikely. But the last time I looked I was up 2.63% after 6 months so in line with targeted 5%pa. There must have been a significant issue between 20.1 and 22.3 to account for growth of only 0.18% a rate of 1.08%pa. I agree that more transparency is needed on where funds are invested and any repayment issues. Now showing growth of 3.2% equivalent to 4.25%pa, better but still not good enough. Useful thanks! I think I posted a few months back that 5% seemed fairly unambitious and looking at the 7 partners they list then it would appear that it should be easy to exceed 4.22% investing directly with Assetz, Lendinvest, Growth Street and Funding Circles. Do you have any visibility on which of the 3 remaining partners are causing the drag down? I've been looking at this again due to the 2% ISA offer, but the figures are not stacking up for me.
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