rscal
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Post by rscal on Sept 17, 2018 16:52:23 GMT
EDIT: (Now closed)
They've extended it until 31st October.......
(or if not fully subcribed after £10 million new investment)
Wow!
1% after 3 months plus 1% more after 6 more months. Has anyone worked out what that becomes as an 'APR'?
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angrysaveruk
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Post by angrysaveruk on Sept 17, 2018 17:08:06 GMT
That is 7%+ on the 30 day account! I might have to expand my exposure.
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angrysaveruk
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Post by angrysaveruk on Sept 17, 2018 17:10:50 GMT
(or if not fully subcribed after £10 miilion new investment)
Wow!
1% after 3 months plus 1% more after 6 more months. Has anyone worked out what that becomes as an 'APR'?
Well assuming you invest your money for a year then it is an extra 2%. But you only have to invest for 6 months so it is double that or an extra 4% annualised if you exit after 6 months since you earn the 2% in 6 months. By my calculations, this basically it is equivalent to 9% Annualised on the 30 days account over 6 months, I am just emailing my brother 
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JamesFrance
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Post by JamesFrance on Sept 17, 2018 17:19:26 GMT
Presumably all these promotional offers is why we are only likely to get 5 or 6 per cent on our diversified investments. I don't find it helpful for my investment to be subsidising the expansion of Assetz so I am much more likely to leave the platform because of this.
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empirica
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Post by empirica on Sept 17, 2018 17:21:44 GMT
From the promo page: To me, that kind of reads: "we need at least £10m and the sooner the better!". (Normally, I'd expect that to be 'whichever comes first', and whilst it may be correct, it possibly isn't? stuartassetzcapital ) |
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Post by stuartassetzcapital on Sept 17, 2018 17:28:01 GMT
We couldn’t compliantly say ‘whichever is the soonest’ ! That’s the reason. We’ve kept the cap tight at £10m as it’s our biggest ever bonus % but then we’re the biggest we have ever been.
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rscal
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Post by rscal on Sept 17, 2018 17:32:31 GMT
I've done the numbers and it works out at very close to 2% APR whichever account you use. The way to see this is to look at a 12 month period from (say) 30th Sept. 1% is paid at 3 months - which is 3 months before the middle of that 'year' and another 1% is paid 3 months after the middle of that year. Just like a scale balance, we could move both 1%s to the middle of the year and apply that to the average investment. So this gives 2% on top of whatever is invested and by getting it effectively at mid year you can weight it equally over the full 12 month period.
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angrysaveruk
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Post by angrysaveruk on Sept 17, 2018 17:36:57 GMT
Presumably all these promotional offers is why we are only likely to get 5 or 6 per cent on our diversified investments. I don't find it helpful for my investment to be subsidising the expansion of Assetz so I am much more likely to leave the platform because of this. If you are a lender with AC you are also an investor. You benefit from the growth of the platform with lower risk and greater liquidity
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Sept 17, 2018 17:44:44 GMT
Presumably all these promotional offers is why we are only likely to get 5 or 6 per cent on our diversified investments. I don't find it helpful for my investment to be subsidising the expansion of Assetz so I am much more likely to leave the platform because of this. If you are a lender with AC you are also an investor. You benefit from the growth of the platform with lower risk and greater liquidity No I don't, I just have the same risk but a lower return, we used to get about 11 or 12% with the occasional default leaving 9 or 10.
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Steerpike
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Post by Steerpike on Sept 17, 2018 17:56:06 GMT
I calculate the bonus XIRR equivalent as 2.81% if holding to 20-Jun-19 or 4.59% if held until 20-Dec-18, I may have to take part even though I had reached my platform comfort level.
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IFISAcava
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Post by IFISAcava on Sept 17, 2018 18:17:10 GMT
I calculate the bonus XIRR equivalent as 2.81% if holding to 20-Jun-19 or 4.59% if held until 20-Dec-18, I may have to take part even though I had reached my platform comfort level.I think that is their cunning plan
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IFISAcava
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Post by IFISAcava on Sept 17, 2018 18:25:37 GMT
you will get 2% if you hold what you invest for the full 9 months (approx)
So ignoring compounding for simplicity, that's effectively 2*12/9 = 2.67% pa equivalent
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empirica
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Post by empirica on Sept 17, 2018 18:26:20 GMT
We couldn’t compliantly say ‘whichever is the soonest’ ! That’s the reason. We’ve kept the cap tight at £10m as it’s our biggest ever bonus % but then we’re the biggest we have ever been. In which case, to misquote Charlie D, "compliance is a ass" _ you have my sympathies! 
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IFISAcava
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Post by IFISAcava on Sept 17, 2018 18:37:32 GMT
The cut-off does unfortunately mean that it is unlikely any ISA transfers would make it in time.
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warn
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Post by warn on Sept 18, 2018 7:00:55 GMT
The cut-off does unfortunately mean that it is unlikely any ISA transfers would make it in time. As it's "Cashback", am I right in thinking it wouldn't be subject to tax?
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