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Post by stuartassetzcapital on Jan 2, 2015 17:01:52 GMT
Dear all, as way of update the Green Energy Income Account has well over £500k invested after the first month or so and investment is accelerating. Look out for more types of Investment Accounts with Provision Funds over the coming weeks. Account type suggestions are always welcome!
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bigfoot12
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Post by bigfoot12 on Jan 3, 2015 11:45:06 GMT
paul123 presumably if you got the programmable accounts you could recreate any other account without its provision fund. That would make more sense to me rather than AC provide two types of an account.
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ramblin rose
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“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 Jan 3, 2015 11:55:08 GMT
paul123 presumably if you got the programmable accounts you could recreate any other account without its provision fund. That would make more sense to me rather than AC provide two types of an account. That depends on whether the underlying investments are made available outside the specific accounts. The green investments currently are, but we don't know if that will apply to the invoice discounting yet; could be that they'll only be available via the specialised account.
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baz657
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Post by baz657 on Jan 9, 2015 11:18:13 GMT
I decided to end my experiment on 8th January (@ 3:31pm), cash out my almost £200 and transfer it into the main account. So far nothing has sold.
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mikes1531
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Post by mikes1531 on Jan 9, 2015 11:47:00 GMT
I decided to end my experiment on 8th January (@ 3:31pm), cash out my almost £200 and transfer it into the main account. So far nothing has sold. Please keep us posted as to your progress exiting. I'm afraid I expect it will be painfully slow, and this issue will be a significant disadvantage for GEIA investors. AC need to make this situation very clear to potential investors so they can't complain they weren't aware of it at the time they were deciding whether or not to invest. Perhaps the situation will improve with time, as more eligible loans are made and more of the current loans disappear from the Aftermarket -- meaning it will become easier to sell units in those loans. That may take some considerable time to achieve since there now are WT loans with significant amounts still offered on the Aftermarket 5-7 months after drawdown. If the current situation persists, AC may need to come up with some sort of an exiting reassurance scheme in order to encourage more uptake of the GEIA.
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sl75
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Post by sl75 on Jan 9, 2015 11:51:57 GMT
I decided to end my experiment on 8th January (@ 3:31pm), cash out my almost £200 and transfer it into the main account. So far nothing has sold. Mine remains open, partly as a test case for the previously-reported withdrawal bug (I have a non-zero amount shown as "awaiting investment" and also a non-zero amount shown as "awaiting withdrawal", and [regardless of the other bugs that created the problem, and continue to add to it every time a repayment is made], the system does not automatically correct this clearly anomalous situation by noticing it and withdrawing the uninvested cash).
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baz657
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Post by baz657 on Jan 9, 2015 12:01:34 GMT
Please keep us posted as to your progress exiting. Will do.
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Post by batchoy on Jan 9, 2015 12:02:10 GMT
I decided to end my experiment on 8th January (@ 3:31pm), cash out my almost £200 and transfer it into the main account. So far nothing has sold. Please keep us posted as to your progress exiting. I'm afraid I expect it will be painfully slow, and this issue will be a significant disadvantage for GEIA investors. AC need to make this situation very clear to potential investors so they can't complain they weren't aware of it at the time they were deciding whether or not to invest. Perhaps the situation will improve with time, as more eligible loans are made and more of the current loans disappear from the Aftermarket -- meaning it will become easier to sell units in those loans. That may take some considerable time to achieve since there now are WT loans with significant amounts still offered on the Aftermarket 5-7 months after drawdown. If the current situation persists, AC may need to come up with some sort of an exiting reassurance scheme in order to encourage more uptake of the GEIA. Mine was set to cash out on the about the 15th December, apart from about 3p that went in the first couple of days it has remained unchanged. With the amount of Green Loans that are up for sale I can well fore see my GEIA lasting for the next three years.
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niceguy37
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Post by niceguy37 on Jan 9, 2015 13:00:46 GMT
I decided to end my experiment on 8th January (@ 3:31pm), cash out my almost £200 and transfer it into the main account. So far nothing has sold. Don't hold your breath. I put my experiment up for sale on 10 December. So far I've a few pennies of interest returned to me but only 1 sale of 6p. With Stuart claiming, IIRC, GEIA investments of £500K so far there must be people buying loan parts. I wondered if, to make the GEIA more attractive to retail-ISA-type-investors, AC would give priority to GEIA sellers when the next GEIA buyer came along, but that doesn't seem to be the case, so it's probably a level playing field. I assume, given the rate of investment in the GEIA, that it won't be long before some of the surplus wind turbine loan parts on the market are soaked up, and then exiting will be no problem.
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bugs4me
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Post by bugs4me on Jan 9, 2015 14:12:27 GMT
I decided to end my experiment on 8th January (@ 3:31pm), cash out my almost £200 and transfer it into the main account. So far nothing has sold. Don't hold your breath. I put my experiment up for sale on 10 December. So far I've a few pennies of interest returned to me but only 1 sale of 6p. With Stuart claiming, IIRC, GEIA investments of £500K so far there must be people buying loan parts. I wondered if, to make the GEIA more attractive to retail-ISA-type-investors, AC would give priority to GEIA sellers when the next GEIA buyer came along, but that doesn't seem to be the case, so it's probably a level playing field. I assume, given the rate of investment in the GEIA, that it won't be long before some of the surplus wind turbine loan parts on the market are soaked up, and then exiting will be no problem. I hope AC introduce some type of formal route for those wishing to exit their GEIA. What appears to be the case is that those wishing to 'leave' simply have their investments placed on the AM along with everything else. If an UW is looking to offload you could be in for a fairly long wait. The GEIA seems to have several merits but exiting isn't one of them ATM.
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Post by batchoy on Jan 9, 2015 14:35:20 GMT
Don't hold your breath. I put my experiment up for sale on 10 December. So far I've a few pennies of interest returned to me but only 1 sale of 6p. With Stuart claiming, IIRC, GEIA investments of £500K so far there must be people buying loan parts. I wondered if, to make the GEIA more attractive to retail-ISA-type-investors, AC would give priority to GEIA sellers when the next GEIA buyer came along, but that doesn't seem to be the case, so it's probably a level playing field. I assume, given the rate of investment in the GEIA, that it won't be long before some of the surplus wind turbine loan parts on the market are soaked up, and then exiting will be no problem. I hope AC introduce some type of formal route for those wishing to exit their GEIA. What appears to be the case is that those wishing to 'leave' simply have their investments placed on the AM along with everything else. If an UW is looking to offload you could be in for a fairly long wait. The GEIA seems to have several merits but exiting isn't one of them ATM. If as I suspect the GEIA is a prototype for a P2P ISA, then AC are going to have to seriously think about a formal exit route which is faster than sitting and waiting for, in the worst case, all the loans to mature or in the case of defaulted loans for them to officially be declared a loss and the PF to pay out..
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Post by stuartassetzcapital on Jan 9, 2015 15:11:03 GMT
Hi the speed of sale being reported isn't what I have experienced myself on my account or what i would expect - let me revert shortly when I get it reviewed. It is intended to create natural liquidity to a point so that modest exits are quick.
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alison
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Sanctuary!!
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Post by alison on Jan 9, 2015 15:29:29 GMT
Well I have this afternoon put my GEIA contents up for sale.
Fortunately the total sum is not going to buy more than a few drinks so it's not a big deal if it takes forever.
Just interested to find out though.
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justsaying
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Post by justsaying on Jan 9, 2015 17:02:01 GMT
I have just invested a modest amount in the MLIA and have been considering doing the same with the Green account, but given the rate of return, I am seeking some reassurance on how quickly an exit can be made before I consider any further
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star dust
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Post by star dust on Jan 9, 2015 17:07:52 GMT
Well, we'd better not all rush at once, or the exit might get even more clogged; so I'll await a solution from Stuart before trying to squeeze my massive tenner through the door.  . |
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