sl75
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Post by sl75 on Oct 21, 2014 15:09:22 GMT
Various discussions are taking place in various places, and some information seems to be getting lost in the middle of big threads. This is especially problematic when many users (including myself) have chosen NOT to subscribe to the "pink" board in the past, and so do not know whether queries being raised have already been answered on the private board, or had an answer in the middle of a long thread.
This thread is intended as a place to collate the answers to frequently asked questions... further discussion is probably best taken to the other thread(s). I'll start off with a few replies to my own post with the stuff I already know the answer to, or can easily find the answer to... perhaps others can copy across info that comes up in discussion in the other threads?
[edit - 25 Nov - this thread has now dropped to the third page of the list of threads on the forum. I think it served its purpose during the transition, which was its main focus - I'd intended it as primarily directed towards users accustomed to the old website. Perhaps it might now be time for someone to create a more permanent FAQ that doesn't presuppose familiarity with the old site - e.g. using the new "target" paradigm as the starting point rather than auctions, buying and selling, etc. - and possibly including any of the points from this thread that remain relevant]
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sl75
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Post by sl75 on Oct 21, 2014 15:25:00 GMT
Some likely questions from users used to the old way of doing things: Where are the auctions?
The new site does not have auctions, as all loans will be underwritten. The nearest equivalent functionality is to browse the list of loans that are " coming soon" and set an investment target. [Update2: this is now working!] How do I buy loan units?Loan units are no longer individually bought and sold. Instead of buying you set an investment target (or increase an existing investment target), and the system will allocate a portion of the loan to you as and when it becomes available (possibly immediately if it is on the list of " available parts"). How do I sell loan units?Loan units are no longer individually bought and sold. Instead you set a lower investment target, and the system will allocate a portion of the loan you currently hold to other investors as and when there is demand for them (possibly immediately). What happened to my existing bids?These are in the reports section, under options for " Live bids" and " Accepted bids" === additional Q&A originally in separate posts Why [was] my total wrong?There [was] a fault with the new site, so that it [didn't] include the value of existing bids in the total. [These are now included in the Manual Loans Investment Account on the dashboard as "Outstanding bids".] If the loans draw down, those will be added to the "currently invested" subtotal, or if the loan does not proceed the cash will become available again and be added to one of the other sections. I can't get to the dashboard - it just takes me back to the homepage!You need to clear your browser cache. (Probably only affects a relatively small number of users who were online a short while after the new site went live) How do I manage my funds within the Assetz accounts? The "manage funds" page only gives me options to transfer in to, or out from, a bank account!You need to make money available for investment into using the "Adjust investment" link within the "Manual Loans Investment Account" area. === additional Q&A from other user's posts later in this thread: Where is my statement? How can I find what I've bought and sold?You now have two statements. Your Cash Account and your Manual Loans Investment Account (MLI). MLI a/c shows what you've bought and sold, the cash a/c shows movement of cash to and from other accounts Here's a link to your Cash a/c Statement www.assetzcapital.co.uk/lender/account/statement OR go to your Dashboard click on 'Reports' then click on '[ Cash Account Statement]' Here's a link for the MLI statement www.assetzcapital.co.uk/investments/product-statement/view/1[OR go to your Dashboard click on 'Reports' then click on 'Manual Investments Account Statement]OR Click on the three little white lines icon in your Dashboard pictured below, [for the picture, see Ton's original post by clicking the date at the top of this quote]
In the future more statements may be produced as more accounts will be coming such as the Green Energy Account. Where is the Secondary Market?The is no secondary market as such, you buy loans by increasing your investment target and sell loans by decreasing your investment target to below your holding value. To view loans that have parts for sale navigate to Loan Book > Browse Loan Book and set the Filter Results selector to 'Loans with units available to purchase now' What is opt out?Opt out will become relevant once the system allows you to set up bespoke investment accounts. It will allow you to manually opt out of loans which would normally meet your investment criteria but which you do not wish to invest in for other reasons. This functionality is not supposed to be in use currently buut was activated by mistake. It is being disabled again. In the meantime, dont do anything as their is a chance that the system may sell your holdings if you get it wrong! What is the queueing mechanism for buying and selling loan parts?If there's less than £1 available per lender who is interested then it will divide into roughly £1 chunks (or £1 and a bit if it's the last chunk) and distribute them at random through the list of interested lenders. If there's more than £1 available per lender then it will try and distribute fairly amongst them. It iterates through each request in turn starting with the smallest. If the amount requested is less than the total split equally amongst all those in the queue then it will allocate that amount to that lender and move on to the next lender repeating the process. If the requested amount is more than the split amount then whatever is currently left unallocated is split equally amongst all remaining lenders in the queue. This means the smallest lenders always get what they're requesting, with the larger lenders always getting at least as much with them getting more if it's available. For selling it works roughly in the same way as the old site where £100 chunks are allocated at random amongst all sellers. If the buyer is requesting less than £100 then the amount allocated in that random step is the amount requested. Accuracy of calculationsas a point of interest I tested the system by selling some £99 of one loan. The sale appeared in my cash statement as some 25 different transactions in amounts ranging from £0.01, with a couple around £5. From the point of view of a purchaser I would be wary of accumulating loan units at 1p a time. The new system works (in the background) to 20 or 40 decimal places, that should take care of most losses that might have happened on owning or buying multiple 1p loan units. Displays are obviously just to two places like £0.45 How do I export my loan book to Excel ? Under the Loan Book/Your Loans menu option you cannot perform an export. However if you go to Browse Loans menu option and set the filter to "loans I am invested in" it is possible. What is not immediately obvious is that the "export as csv" button is at the bottom of the screen.
This export option is available for other of the filter criteria.
At the moment of writing the export does not include the loan number/id and only has the loan title which is a bit of an oversight but hopefully will be addressed shortly. It seems no longer possible to sell or buy at a discount.Selling at a discount will be making a return next week. It was consciously removed for launch to reduce complexity and confusion in the interface with all the other changes being made. Also how do you say what rate your buying on reverse auctioned loans?The reverse auctioned loans aren't really supported any more as support for that type of auction has been removed from the rest of the site. They're still there and repayments have been made to work with them, but it was felt it was counter productive to clutter the user interface or build additional controls just to support those two historic loans. Loan units can still be bought and sold but allocation will be random rather than targeting the loan units with the highest or lowest rates when buying or selling. What's the minimum amount I can invest in a loan?There is no minimum [but you must have at least £1 in your MLIA for the system to make purchases, even though these] purchases can be a little as 1p. The £1 limit on accounts being considered as a potential buyer has been removed so any shrapnel should be investable as long as it's 1p or more. I have shadow bids for the old system and these have an investment target of zero. Do I have to set these to equal my shadow bids to avoid the system selling my holding when it goes live/drawn
No your target will be set to match your holdings on drawdown. Your target will be set to match your holdings on draw down, but I'm working on a way to disable manual investment for a given loan until lender activated, and when available we'll use that instead. === additional Q&A "inspired by" posts later in this thread === After this post by ton: My accrued interest kept changing over the last few days. Why?There was a fault with the calculation that was being worked on. It should all be ok now. Not sure if it's intended as a "helpful" answer, but I'll link to it anyway: How do I do something as simple as buying loan units without the Manual Auto Investor potentially topping up my holdings each time a repayment is made or I add funds to my Manual Loan Account? |
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Post by yorkshireman on Oct 21, 2014 15:36:21 GMT
Some likely questions from users used to the old way of doing things: Where are the auctions?
The new site does not have auctions, as all loans will be underwritten. The nearest equivalent functionality is to browse the list of loans that are " coming soon" and set an investment target. How do I buy loan units?Loan units are no longer individually bought and sold. Instead of buying you set an investment target (or increase an existing investment target), and the system will allocate a portion of the loan to you as and when it becomes available (possibly immediately if it is on the list of " available parts"). How do I sell loan units?Loan units are no longer individually bought and sold. Instead you set a lower investment target, and the system will allocate a portion of the loan you currently hold to other investors as and when there is demand for them (possibly immediately). What happened to my existing bids?These are in the reports section, under options for " Live bids" and " Accepted bids" I’ll second every one of those questions and also comment that whilst teething troubles were to be expected, the crass stupidity of some of these anomalies beggar belief. The old saying that actions speak louder than words applies here, AC would have done better by cutting out all the pre-launch hype and not building up expectations. (Not mine by the way)
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 21, 2014 16:44:45 GMT
... Where are the auctions?
The new site does not have auctions, as all loans will be underwritten. The nearest equivalent functionality is to browse the list of loans that are " coming soon" and set an investment target.... Are you sure? I tried this and the system would not let me set a target on loans that are "coming soon". No it doesnt and any previous AI mandates seem to have been maintained as targets on these with no way to amend
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Post by Ton ⓉⓞⓃ on Oct 21, 2014 16:52:35 GMT
Where is my statement? How can I find what I've bought and sold?You now have two statements. Your Cash Account and your Manual Loans Investment Account (MLI). MLI a/c shows what you've bought and sold, the cash a/c shows movement of cash to and from other accounts Here's a link to your Cash a/c Statement www.assetzcapital.co.uk/lender/account/statement OR go to your Dashboard click on 'Reports' then click on 'Cash Account Statement' Here's a link for the MLI statement www.assetzcapital.co.uk/investments/product-statement/view/1OR Click on the three little white lines icon in your Dashboard pictured below,  The MLI statement is where you will find your trading activity, buying and selling loans etc. There is now a new link to this statement under reports at the top of the AC screen to the right of Loan book on the 'Nav-bar'. In the future more statements may be produced as more accounts will be coming such as the Green Energy Account.
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Post by batchoy on Oct 21, 2014 18:08:33 GMT
Where is the Secondary Market?
The is no secondary market as such, you buy loans by increasing your investment target and sell loans by decreasing your investment target to below your holding value. To view loans that have parts for sale navigate to Loan Book > Browse Loan Book and set the Filter Results selector to 'Loans with units available to purchase now'
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Post by Ton ⓉⓞⓃ on Oct 21, 2014 19:54:08 GMT
What's the time-table of events?phase 1 -Launch, we're still at this point; today's date being 31/10/14, 4/10/14 Phase 2 is next week if the schedule holds (Probably includes re-starting Mark-Downs & Green Energy Income a/c).
Phase 3 is Nov. I think this is the filters; a further development. This schedule could not be held to, new one below Next Phase is hopefully in Nov. but not guaranteed for Nov.- Manual Investment system redesign to have time dependent buy & sell orders, Marddowns will return at this time. More detail on future developments are mentioned HERE by Chris.
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acorn
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Post by acorn on Oct 21, 2014 22:37:20 GMT
Some likely questions from users used to the old way of doing things: Where are the auctions?
The new site does not have auctions, as all loans will be underwritten. The nearest equivalent functionality is to browse the list of loans that are " coming soon" and set an investment target. [Update: this does not seem to work. I'd already got investment targets, and forgot to double-check I could change/modify them - will need to ask "elsewhere" to avoid polluting this thread, and update this answer as needed] When I use your "coming soon" link it takes me to the 9 loans that are in the pipeline. When I use the "browse loans" link under Loan Book on my a/c I can only see 71 existing loans (up to loan 140) and have no visibility of the 9 up-coming loans at all, despite both links appearing to link to the Browse Loans tab. Any ideas why this is happening please?
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Post by batchoy on Oct 21, 2014 22:41:17 GMT
Some likely questions from users used to the old way of doing things: Where are the auctions?
The new site does not have auctions, as all loans will be underwritten. The nearest equivalent functionality is to browse the list of loans that are " coming soon" and set an investment target. [Update: this does not seem to work. I'd already got investment targets, and forgot to double-check I could change/modify them - will need to ask "elsewhere" to avoid polluting this thread, and update this answer as needed] When I use your "coming soon" link it takes me to the 9 loans that are in the pipeline. When I use the "browse loans" link under Loan Book on my a/c I can only see 71 existing loans (up to loan 140) and have no visibility of the 9 up-coming loans at all, despite both links appearing to link to the Browse Loans tab. Any ideas why this is happening please? You need to apply the appropriate file to the Browse Loans Tab from the Apply Filter selection list.
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acorn
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Post by acorn on Oct 21, 2014 23:12:34 GMT
Thanks, Batchoy, I just found the filter and was about to edit my post.....
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Oct 22, 2014 9:15:14 GMT
What is opt out?
Opt out will become relevant once the system allows you to set up bespoke investment accounts. It will allow you to manually opt out of loans which would normally meet your investment criteria but which you do not wish to invest in for other reasons. This functionality is not supposed to be in use currently buut was activated by mistake. It is being disabled again. In the meantime, dont do anything as their is a chance that the system may sell your holdings if you get it wrong!
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 22, 2014 9:16:34 GMT
What is the queueing mechanism for buying and selling loan parts?
If there's less than £1 available per lender who is interested then it will divide into roughly £1 chunks (or £1 and a bit if it's the last chunk) and distribute them at random through the list of interested lenders.
If there's more than £1 available per lender then it will try and distribute fairly amongst them. It iterates through each request in turn starting with the smallest. If the amount requested is less than the total split equally amongst all those in the queue then it will allocate that amount to that lender and move on to the next lender repeating the process. If the requested amount is more than the split amount then whatever is currently left unallocated is split equally amongst all remaining lenders in the queue.
This means the smallest lenders always get what they're requesting, with the larger lenders always getting at least as much with them getting more if it's available.
For selling it works roughly in the same way as the old site where £100 chunks are allocated at random amongst all sellers. If the buyer is requesting less than £100 then the amount allocated in that random step is the amount requested.
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hendragon
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Post by hendragon on Oct 22, 2014 11:17:03 GMT
as a point of interest I tested the system by selling some £99 of one loan. The sale appeared in my cash statement as some 25 different transactions in amounts ranging from £0.01, with a couple around £5. From the point of view of a purchaser I would be wary of accumulating loan units at 1p a time.
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Post by Ton ⓉⓞⓃ on Oct 22, 2014 11:25:21 GMT
Accuracy of calculationsas a point of interest I tested the system by selling some £99 of one loan. The sale appeared in my cash statement as some 25 different transactions in amounts ranging from £0.01, with a couple around £5. From the point of view of a purchaser I would be wary of accumulating loan units at 1p a time. The new system works (in the background) to 20 or 40 decimal places, that should take care of most losses that might have happened on owning or buying multiple 1p loan units. Displays are obviously just to two places like £0.45 A similar but much more detailed explanation/discussion is Here.
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hendragon
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Post by hendragon on Oct 22, 2014 11:29:24 GMT
no doubt the system is accurate and fair, but buying in 1p portions is a little silly. Perhaps a minimum of £1 allocations with a queuing system would be more sensible?
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