ianb
Posts: 161 
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Post by ianb on Dec 2, 2014 7:22:03 GMT
Something definitely seems awry with this loan. This evening the overall value of my MLIA dropped by £18.41. Which corresponds exactly to the amount of Falmouth it purchased at 19:33. Please can you check, chrisI've also got this issue, seemed like it purchased some of this loan (spuriously as I was already at my target), reduced the available cash but did not update the amount invested. Will be phoning AC first thing.
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sl75
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Post by sl75 on Dec 2, 2014 10:01:22 GMT
My GEIA also inexplicably dropped by a small amount about equal to the recent Falmouth repayment (presumably also my MLIA, but I'd not been tracking that total as closely), with no explanation, and no statement entries.
... then just as I was writing this post it magically corrected itself, also without generating any statement entries, and without any explanation!
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mikeb
Posts: 1,072
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Post by mikeb on Dec 2, 2014 11:34:26 GMT
Something definitely seems awry with this loan. This evening the overall value of my MLIA dropped by £18.41. Which corresponds exactly to the amount of Falmouth it purchased at 19:33. Please can you check, chrisI've also got this issue, seemed like it purchased some of this loan (spuriously as I was already at my target), reduced the available cash but did not update the amount invested. Will be phoning AC first thing. Officially noted to David Ricketts last night, and also included to Mark Wardrop this morning. I was at my target holding, and £18.41 was "purchased" on my behalf, yet my holding didn't increase at all. Now this has been "fixed", my holding is £220.28 ... so I'm up on the deal and my account doesn't balance. Second fix needed? Also transactions appearing in the statement that only affect half of an account? (My available to invest went down, my holding didn't go up). Eek? On the positive side: The accrued interest is back to being correct, for me, as of now.
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ianb
Posts: 161
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Post by ianb on Dec 2, 2014 12:20:53 GMT
I've also got this issue, seemed like it purchased some of this loan (spuriously as I was already at my target), reduced the available cash but did not update the amount invested. Will be phoning AC first thing. Officially noted to David Ricketts last night, and also included to Mark Wardrop this morning. I was at my target holding, and £18.41 was "purchased" on my behalf, yet my holding didn't increase at all. Now this has been "fixed", my holding is £220.28 ... so I'm up on the deal and my account doesn't balance. Second fix needed? Also transactions appearing in the statement that only affect half of an account? (My available to invest went down, my holding didn't go up). Eek? On the positive side: The accrued interest is back to being correct, for me, as of now. sort of fixed for me too. taking my balance as of sunday plus sum of all interest payments, I am now some 23.38 ahead of what I think my balance should be, but I wont complain too much about that. I have the spurious purchases now which push me over my target but guess these will settle down over time. Discussed this position with AC.
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Post by Ton ⓉⓞⓃ on Dec 2, 2014 15:01:24 GMT
A partial or even a full answer for the bouncing around of the Falmouth loan amount is over Herethere's an answer Here too, similar or same issue? |
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ianj
Member of DD Central
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Post by ianj on Dec 2, 2014 18:24:44 GMT
A partial or even a full answer for the bouncing around of the Falmouth loan amount is over Herethere's an answer Here too, similar or same issue? Yesterday evening my MLIA holding matched my active loan target. Today, MLIA ignored the target setting and purchased another £9.21, but my total, compared with yesterday evening, has risen by £10.14. The MLIA target is still active. While the links above may be pertinent to the fluctuation in loan value held, I don't see how this should cause a purchase above an active target. 
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oldgrumpy
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Post by oldgrumpy on Dec 2, 2014 21:06:08 GMT
All part of the mighty Falmouth Bawlsupp. Accidental "revaluations" of units and suchlike upsetting the MLIA buying/selling hamsters. I've had my Falmouth disabled for more than a week. |
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mikes1531
Member of DD Central
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Post by mikes1531 on Dec 3, 2014 2:36:43 GMT
Yesterday evening my MLIA holding matched my active loan target. Today, MLIA ignored the target setting and purchased another £9.21, but my total, compared with yesterday evening, has risen by £10.14. The MLIA target is still active. While the links above may be pertinent to the fluctuation in loan value held, I don't see how this should cause a purchase above an active target. : You'd have had to have been watching your account very carefully to see all that happened. What I think happened is... This loan became undervalued due to an AC error, which resulted in the value of your holding dropping below your target. AutoInvest noticed that, and bought some units for you. When the loan value was corrected, your holding would have exceeded your target, and AutoInvest will have put some of your units onto the Aftermarket. (But, of course, you can't see that.) Since there are a lot of units up for sale, it could be a while before your units are sold and your holding reverts to your target level. Meanwhile, as I wrote earlier... In the meantime, any Aftermarket transactions between the time the Capital Remaining dropped and the future time when it is corrected ... will have be done at the wrong capital value since ... buyers will have paid too little for the parts purchased and the sellers will have been short-changed. I wouldn't want to be chris trying to seek out and adjust all those transactions, of which there no doubt will be quite a few. You have managed to buy £10.14 of this loan and pay only £9.21 -- but it's not clear to me whether or not AC are going to try to fix these errors. I suspect that they have to for the lender on the other side of the transaction, since they sold £10.14 of this loan but received only £9.21, so they have lost out.
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Post by chris on Dec 3, 2014 6:38:56 GMT
Yesterday evening my MLIA holding matched my active loan target. Today, MLIA ignored the target setting and purchased another £9.21, but my total, compared with yesterday evening, has risen by £10.14. The MLIA target is still active. While the links above may be pertinent to the fluctuation in loan value held, I don't see how this should cause a purchase above an active target. : You'd have had to have been watching your account very carefully to see all that happened. What I think happened is... This loan became undervalued due to an AC error, which resulted in the value of your holding dropping below your target. AutoInvest noticed that, and bought some units for you. When the loan value was corrected, your holding would have exceeded your target, and AutoInvest will have put some of your units onto the Aftermarket. (But, of course, you can't see that.) Since there are a lot of units up for sale, it could be a while before your units are sold and your holding reverts to your target level. Meanwhile, as I wrote earlier... In the meantime, any Aftermarket transactions between the time the Capital Remaining dropped and the future time when it is corrected ... will have be done at the wrong capital value since ... buyers will have paid too little for the parts purchased and the sellers will have been short-changed. I wouldn't want to be chris trying to seek out and adjust all those transactions, of which there no doubt will be quite a few. You have managed to buy £10.14 of this loan and pay only £9.21 -- but it's not clear to me whether or not AC are going to try to fix these errors. I suspect that they have to for the lender on the other side of the transaction, since they sold £10.14 of this loan but received only £9.21, so they have lost out. Yes, that is my understanding of what happened. Yes AC are going to correct those errors as some have gained and others have lost and we need to balance that.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Dec 3, 2014 8:39:03 GMT
Hi,
Anyone who bought or sold the Falmouth during its incorrectly valued period, is it obvious from the statement? Were the two numbers, which are normally the same, different?
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Post by batchoy on Dec 3, 2014 9:14:30 GMT
Hi, Anyone who bought or sold the Falmouth during its incorrectly valued period, is it obvious from the statement? The answer is no, and particularly so on the GEIA where it is impossible to see what holdings you have. So all I can see is that my GEIA total investment according to AC is £0.08 higher than my total investment according to my accounts and this appears to marry with the revaluation. I cannot say definitively with regard to the totals according to my AC statements as these remain mangled for the period 22/10/2014 to some point on 02/12/2014 and I have transactions which I cannot definitively attribute to my MILA and GEIA accounts, I only have weight of evidence to base assumptions on.
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Post by chris on Dec 3, 2014 11:42:51 GMT
A correction has just been made to Falmouth that should correct each user's position to what they have paid for. If you had a net gain then your current holdings have been shrunk back to where they should be based on what you paid for your loan units.
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ianj
Member of DD Central
Posts: 656
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Post by ianj on Dec 3, 2014 13:04:39 GMT
A correction has just been made to Falmouth that should correct each user's position to what they have paid for. If you had a net gain then your current holdings have been shrunk back to where they should be based on what you paid for your loan units. I previously posted.... Yesterday evening my MLIA holding matched my active loan target. Today, MLIA ignored the target setting and purchased another £9.21, but my total, compared with yesterday evening, has risen by £10.14. The MLIA target is still active......and my purchase of £10.41 has been reduced, as advised, leaving my holding in excess of my MLIA target by exactly that purchase price. I have to assume it's on the market, but there's no way of telling. Having experienced my first anomaly (I was beginning to feel left out), I now have a better understanding of why other users can appear somewhat 'obsessive' when the unwanted/unexpected happens. The sum involved is a mere trifle and of no consequence, but not only do I want to know why my MLIA target was ignored, I feel I need know that AC understand why it occurred. I won't mention it again...well, maybe! 
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Post by chris on Dec 3, 2014 15:50:01 GMT
A correction has just been made to Falmouth that should correct each user's position to what they have paid for. If you had a net gain then your current holdings have been shrunk back to where they should be based on what you paid for your loan units. I previously posted.... Yesterday evening my MLIA holding matched my active loan target. Today, MLIA ignored the target setting and purchased another £9.21, but my total, compared with yesterday evening, has risen by £10.14. The MLIA target is still active......and my purchase of £10.41 has been reduced, as advised, leaving my holding in excess of my MLIA target by exactly that purchase price. I have to assume it's on the market, but there's no way of telling. Having experienced my first anomaly (I was beginning to feel left out), I now have a better understanding of why other users can appear somewhat 'obsessive' when the unwanted/unexpected happens. The sum involved is a mere trifle and of no consequence, but not only do I want to know why my MLIA target was ignored, I feel I need know that AC understand why it occurred. I won't mention it again...well, maybe!
I believe the explanation has already been posted but I'll post again for clarity. The value of lenders holdings was adjusted downwards by an administrative error revaluing the loan units held by each lender. The MLIA saw your new holding as being less than your target amount and therefore bought more loan units in order to return your holding to your target level. When the value of the loan units was restored to where it should be this then pushed your total holdings over the target. The MLIA would have then listed that excess holding for sale.
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ianj
Member of DD Central
Posts: 656
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Post by ianj on Dec 3, 2014 16:37:34 GMT
I previously posted.... Yesterday evening my MLIA holding matched my active loan target. Today, MLIA ignored the target setting and purchased another £9.21, but my total, compared with yesterday evening, has risen by £10.14. The MLIA target is still active......and my purchase of £10.41 has been reduced, as advised, leaving my holding in excess of my MLIA target by exactly that purchase price. I have to assume it's on the market, but there's no way of telling. Having experienced my first anomaly (I was beginning to feel left out), I now have a better understanding of why other users can appear somewhat 'obsessive' when the unwanted/unexpected happens. The sum involved is a mere trifle and of no consequence, but not only do I want to know why my MLIA target was ignored, I feel I need know that AC understand why it occurred. I won't mention it again...well, maybe!
I believe the explanation has already been posted but I'll post again for clarity. The value of lenders holdings was adjusted downwards by an administrative error revaluing the loan units held by each lender. The MLIA saw your new holding as being less than your target amount and therefore bought more loan units in order to return your holding to your target level. When the value of the loan units was restored to where it should be this then pushed your total holdings over the target. The MLIA would have then listed that excess holding for sale. I was working on the basis that the 'administrative error' occurred, and had been corrected, prior to the £9.21 purchase. If I'd read the preceding threads properly all would have been clear! Think I need some of OG's favourites. 
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