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Post by elephantrosie on Dec 20, 2017 5:43:02 GMT
what is abundance's default rate like?
cannot find any information on this
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pom
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Post by pom on Dec 20, 2017 13:50:53 GMT
Not sure if "default" is the right term with debentures, but perhaps because they haven't had any...(that I'm aware of anyway and I've invested in over 20 deals now. One of my windfarms is underperforming slightly but another is overperforming so I'm happy)
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liso
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Post by liso on Dec 20, 2017 14:34:54 GMT
The majority of investments are long term and as Abundance has been trading only for 5 years, most projects have not yet reached maturity/capital repayment.
I have invested in a few short term deals which paid in full on time.
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rambler
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Post by rambler on Dec 23, 2017 22:51:03 GMT
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Post by optymystic on Aug 9, 2018 10:59:32 GMT
That link is currently dead. Given that one of the RHI dependent debentures to the tune of £4 mn has been overdue for repayment since January with no visible prospect of redemption, perhaps we should not be surprised.
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Post by GentlemansFamilyFinances on Aug 10, 2018 12:07:20 GMT
I think that since Abundance is a bit different from a lot of the other P2P / P2B businesses, you can't compare defaults in the same way.
To date there have been no defaults - but that doesn't mean that an investment which is planned to run 20 years isn't going to in 10 years time.
I think that the best way to use Abundance is to consider defaults in your expected returns and use the Marketplace to diversify.
I have invested in new issues but there doesn't seem to be as many recently - so I have picked up most of my debentures from the markets and I hold around 20 or so with no more than 10% in each one. I'm still buying ones which I like and I am underweight in.
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alibaba
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Post by alibaba on Nov 15, 2018 16:31:54 GMT
Just seen abundance on seeders, considering investing, any opinions would be appreciated.
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scc
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Post by scc on Nov 18, 2018 11:05:37 GMT
There have clearly been some problematic loans (probably 3-4 out of around 20+ offerings). No actual defaults yet, but definitely at least a couple which are not yet out of the woods. Note also that some of these loans run for nearly 20 years and there can be an incestuous like quality to the relationships between some loans. All of these add up to a loan book which isn't very well diversified IMO and new loans tend to be infrequent.
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alibaba
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Post by alibaba on Nov 18, 2018 11:52:12 GMT
Thank you for taking the time to reply, much appreciated.
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Post by swissmate76 on May 26, 2021 20:56:18 GMT
this has changes massively in last year
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Post by GentlemansFamilyFinances on May 28, 2021 8:06:37 GMT
this has changes massively in last year I don't quite know what you mean but I've been very pleased with Abundance in the last year and in particular the performance of the C****c loan which was a large part of my holding - that went dormant for a long time but the project is now nearing commissioning/start-up, the company raised a few million on a crowdfunding platform to aid development and the price of debentures on the market has jumped from around 5-10% above par to 45-50% - and even at today's prices it's offers a decent IRR. I'd buy more but my IFISA is full and I don't like the prospect of a massive tax bill on 60p of interest on every ~£1.50 invested! My other large holding is in I** P*** S****** H**** and I expect it to get the greenlight from the Scottish government within a few weeks and debenture holders get repaid - I am not a lawyer but I can't see how this can be rejected given the planning process/application and the mood of the Scottish government (and Green Party supporting SNP) to support this type of development and to support wind energy. There may be projects like M***** that are not doing so well, but what difference has there been in a year? If anything, things aren't as bad as I'd have thought. More loans coming through would be nice - is nobody looking for money to develop any green projects? I'd like to invest in a simple windfarm - we give you money, you build a windfarm, pay us back with the money from the electricity generated. That's easy enough to understand.
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