|
|
Post by batchoy on Dec 1, 2014 20:52:26 GMT
Another update on Loan no. 127 covering the revaluation. given this status update to #127 and a pending vote should this loan be tradeable? My GEIA has just purchased parts of this loan.
|
|
|
|
Post by davidricketts1 on Dec 1, 2014 21:00:03 GMT
Another update on Loan no. 127 covering the revaluation. given this status update to #127 and a pending vote should this loan be tradeable? My GEIA has just purchased parts of this loan. I did debate this batchoy but decided that given there have been warnings up here for a week and that LTV remains less than 70% it could remain tradeable. If it was more than 70% (in line with GIEA rules) I'd have suspended it.
If I'm honest if this had to happen to any WT loan I'm glad it was this one given lower LTV and higher interest cover.
|
|
|
|
Post by batchoy on Dec 1, 2014 21:08:32 GMT
davidricketts1 given this status update to #127 and a pending vote should this loan be tradeable? My GEIA has just purchased parts of this loan. I did debate this batchoy but decided that given there have been warnings up here for a week and that LTV remains less than 70% it could remain tradeable. If it was more than 70% (in line with GIEA rules) I'd have suspended it.
If I'm honest if this had to happen to any WT loan I'm glad it was this one given lower LTV and higher interest cover.
The problem is that whilst there have been a lot of discussions, loan updates and warnings about the loan there is no control over what the GEIA trades in so they have no meaning, and whilst the loan still meets GEIA rules in it's current state, it is in a state of flux, in breach of it's LTV Covenant and pending a vote. Which raises another question do GEIA investors still get to vote in ballots even though they have some protection from the PF and so don't necessarily have the same wants and needs as those investing through the MLIA.
|
|
|
|
Post by geoffrey on Dec 2, 2014 9:12:52 GMT
Is it really appropriate for people to be fussing about which loans the GEIA invests in? You hand over your cash for AC to manage in this fund. That's why the loans are covered by a provision find, precisely so you don't have to assess the risk of investing individually in this or that loan. All I need to know is that the fund is respecting its stated investment rules. If I want to assess the risk myself, then I'll invest via the MIA.
|
|
|
|
Post by batchoy on Dec 2, 2014 9:34:13 GMT
Is it really appropriate for people to be fussing about which loans the GEIA invests in? You hand over your cash for AC to manage in this fund. That's why the loans are covered by a provision find, precisely so you don't have to assess the risk of investing individually in this or that loan. All I need to know is that the fund is respecting its stated investment rules. If I want to assess the risk myself, then I'll invest via the MIA. It is not fussing. The loan has breached the LTV Covenant and is therefore technically in default, and is pending changed that will require a vote so should it be available to trade?
|
|
|
|
Post by geoffrey on Dec 2, 2014 16:52:24 GMT
For the MIA, I agree, I don't think it should be tradable. But within GEIA, it is entirely up to AC if they wish to invest my cash in this loan. If the loan goes bad, the provision fund will step in. Presumably this is a calculated risk-reward balance that AC has made, in the best interests of the provision fund, i.e., I would not expect them to take an action that would recklessly endanger the solvency of the provision fund.
|
|
|
|
Post by davidricketts1 on Dec 2, 2014 17:01:44 GMT
Further short update on Loan No. 39.
|
|
|
|
Post by davidricketts1 on Dec 11, 2014 16:38:00 GMT
I've put some short updates up on the following loans today:
39 68 84 127 129 132
I'm away for a few days now (back next Wednesday) so please bear with my colleagues whilst they try and pick up the things I do over the next 3 days.
|
|
|
|
Post by davidricketts1 on Dec 17, 2014 17:07:53 GMT
Updates on loans 39 & 132 today.
|
|
acorn
Posts: 118
Likes: 23
|
Post by acorn on Dec 17, 2014 21:14:41 GMT
Any chance of an update on Loan 38....I used to be able to hold my breath for 2 minutes or so , but 2 months+ is a bit beyond me  |
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
Likes: 302
|
Post by merlin on Dec 17, 2014 21:27:25 GMT
Updates on loans 39 & 132 today. Can we please have the vote before Xmas, please David?
|
|
|
|
Post by davidricketts1 on Dec 18, 2014 8:24:34 GMT
Any chance of an update on Loan 38....I used to be able to hold my breath for 2 minutes or so , but 2 months+ is a bit beyond me
I'm trying....
|
|
|
|
Post by davidricketts1 on Dec 18, 2014 8:24:56 GMT
Updates on loans 39 & 132 today. Can we please have the vote before Xmas, please David? That's the plan merlin.
|
|
|
|
Post by davidricketts1 on Dec 18, 2014 15:40:17 GMT
Update on loan no.53.
|
|
|
|
Post by davidricketts1 on Dec 23, 2014 14:35:57 GMT
Update on loan no. 89 on the website.
Update on the vote result for loan no. 132 will be published this afternoon.
|
|
