benaj
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Post by benaj on Aug 1, 2018 12:54:31 GMT
Since 1st Apr 2018, my FC accounts gain 1.8% of total current investment value, so far across 1400 loans, topped up 38% funding in 1st Jun.
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dorset
Member of DD Central
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Post by dorset on Aug 1, 2018 13:44:52 GMT
Eight defaults in July and now 64 for the year - more than each entire year in 2017 and 2016 and 2015.
Small capital loss so far for the 2018/2019 financial year.
No doubt now that the "light touch" FC DD is resulting in a car crash. When will this emerge from the loan book stats?
Continuing to run out my FC loan book as from Sept 2017. One third now paid back and it will not be going back in.
No complaints overall however as I made decent returns with FC between 2011 and 2017.
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catlady
New Member
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Post by catlady on Aug 1, 2018 14:32:37 GMT
I'm winding down my investments on FC too as the defaults now are bordering on farcical.
And on that topic, apologies to anyone about to get a slice of the lemon that is #23279. It finally is paid up to date today by some miracle and so I have leapt at this small window of opportunity to sell out of it. Which means I have almost fully escaped.
Was nice while it lasted but, in my opinion, FC is only going to get worse.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Aug 1, 2018 16:56:27 GMT
I've also been winding down since 'New FC' came into play last September.
Return since then is 2.4% so I'm currently headed for less than 3% annual. One or two defaults between now and mid-September could see most of that wiped out.
Great returns in the past but that said it's no longer worth the risk, in my opinion.
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Post by captainb on Aug 1, 2018 20:44:34 GMT
How many times have l read on a RAG rating we are giving it a red!
Has a guarantor ever made a payment?
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Post by valerieb on Aug 2, 2018 7:35:04 GMT
A few have coughed up. Amusingly, I visited an elderly, former neighbour yesterday who I hadn't seen for some years. Towards the end of a long conversation, she observed that I seemed to have become very sceptical. My immediate reaction was to blame my six year relationship with FC - it was hard work explaining the ins and outs of FC to a 90 year old with no knowledge of P2P!
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jcm9000
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Post by jcm9000 on Aug 4, 2018 7:58:47 GMT
Sure are! My balance is now £0. Must have written off all my defaults after allocating a few pennies of recoveries. What I can’t see doesn’t hurt. Yay!
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upland
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Post by upland on Aug 5, 2018 6:00:44 GMT
I had to gulp a bit recently as a couple of old loans (some property) etc went bad and my defaults jumped by quite a lot. Its made me watch the situation with added interest.
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ashtondav
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Post by ashtondav on Aug 5, 2018 7:48:45 GMT
Were these experiences representative of the whole loan book the F.C. investment trust would be legally bound to issue a warning. From the annual report of the IT on 12th July: Guess the unlucky punters must post here. Or the IT board are lying  I suppose without access to the whole loan book experience, anecdote and hypothesis are all we can go on... |
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Post by GSV3MIaC on Aug 5, 2018 11:10:17 GMT
The IT is heavily into the USA end of the business (i.e. loan to US SMEs), and probably heavily OUT of UK property, so I can see how the IT could return 5-6% while the UK lenders do somewhat worse. The IT also has the ability (although I don't know if they are using it this week) to borrow to leverage their investment.
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bg
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Post by bg on Aug 5, 2018 11:17:52 GMT
The IT also gets a choice of loans to invest in...something UK retail investors no longer do (and they also get automatically allocated loans that the IT have rejected)
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ashtondav
Member of DD Central
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Post by ashtondav on Aug 5, 2018 12:23:08 GMT
The IT is heavily into the USA end of the business (i.e. loan to US SMEs), and probably heavily OUT of UK property, so I can see how the IT could return 5-6% while the UK lenders do somewhat worse. The IT also has the ability (although I don't know if they are using it this week) to borrow to leverage their investment. They are shifting more of their loan book to the UK, and like I said they would have had to alert investors to a deteriorating loan book in their outlook section. They can gear up but I can’t recall if they use gearing at the moment. Anyway, perhaps the rumblers on here who like to choose might as well go to the IT. There are no charges other than the F.C. charges, so it’s like an expert picking the loans AND you get exposure to Europe and the USA. And you can sell everything with a click of a button at, what, £12 via HL. So why hang around here? I guess the only reason is that the IT can trade at a premium or discount. Other than that it provides what the old F.C. provided.
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Post by GSV3MIaC on Aug 5, 2018 14:26:44 GMT
The OLD FC used to provide something different (selection possibilities), but the IT certainly provides what the NEW FC offers, with, as you say, the benefit of liquidity (at a price). Personally I'd probably go for other (non P2P) ITs, accepting a lower coupon for the chance of a larger capital gain .. FCIT is basically a junk-bond-fund, afaict. I don't believe the IT is allowed to cherry pick in any way though, I think they have to take whatever (pseudo)random selection of 'whole loans' thy get offered (same as the rest of us thee days).
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Post by GentlemansFamilyFinances on Aug 30, 2018 9:10:51 GMT
I would be tempted to just hold the FC Investment Trust as a way to save time and energy with investing in P2P.
However, I find that FC is good for moving money into and out of on short notice - ever since the 0.5% selling fee was abolished (but they stopped allowing flippers to prosper by removing self-selection on loans) - I have been finding that for investing over short periods - say between a couple of weeks and a couple of months depending on cash flow.
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kaya
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Post by kaya on Sept 1, 2018 15:32:39 GMT
I would be tempted to just hold the FC Investment Trust as a way to save time and energy with investing in P2P. However, I find that FC is good for moving money into and out of on short notice - ever since the 0.5% selling fee was abolished (but they stopped allowing flippers to prosper by removing self-selection on loans) - I have been finding that for investing over short periods - say between a couple of weeks and a couple of months depending on cash flow. Like many I have sold out. Do you recommend then buying into a batch of loans for a coupe of months, then selling the lot?
What would you hope/expect the APR return to be with such a strategy?
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