agent69
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Post by agent69 on Jan 9, 2015 17:10:37 GMT
When the facility to mark down loan parts returns (we were told some time in January) will this also apply to the green account?
If so it may help loosen up some sales
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Post by stuartassetzcapital on Jan 9, 2015 17:14:27 GMT
Its important to remember that this isn't a bank savings account and outflows are dependent on inflows much like some funds and not as liquid as a 1% bank savings account therefore. If we dropped the rate to that level we could fund a method of permitting higher speed cash withdrawals but that isn't what people are seeking. Nonetheless I will report back shortly with expected withdrawal performance.
Certainly a slight markdown would create a very high speed sale when we activate that facility.
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bugs4me
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Post by bugs4me on Jan 9, 2015 17:14:56 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. Thanks for responding stuartassetzcapital - what exactly does '....It is intended to create natural liquidity to a point so that modest exits are quick....' mean?
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Post by stuartassetzcapital on Jan 9, 2015 17:17:13 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. Thanks for responding stuartassetzcapital - what exactly does '....It is intended to create natural liquidity to a point so that modest exits are quick....' mean? It means the algorithm for new investment does give existing investors a fair exit chance (with randomness purposefully introduced for fairness) versus just purchasing underwriter units provided that the exist are small versus the new investment, which I can confirm they are, very small.
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oldgrumpy
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Post by oldgrumpy on Jan 9, 2015 17:35:54 GMT
There's a lot of "reverting" going on regarding this green account. I wonder what we will be changing back into. Bruce Banner?  |
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sand2880
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Post by sand2880 on Jan 9, 2015 17:39:50 GMT
I too put my Green account into withdrawel stage in early december and initially there was some liquidity maybe due to people trying the green account, however, no sales have occured since 10th December.
I'm hoping that as people have tried the account and then put up the funds for sale there is a significiant funds awaiting withdrawel, this together with the higher volumes of wind turbine units that were available as put the withdrawels at a slow pace. Hopefully, new money is being added to the green proposition to ease the withdrawel process over the coming months and that the £500k invested wasnt existing investors just trying the account out.
It may be a waiting game until new investors attracted by the green account add funds and bring more liquidity to the account, unless chris finds any issues with the withdrawel process.
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sl75
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Post by sl75 on Jan 9, 2015 17:52:49 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. Except for a brief moment between cancelling one withdrawal target and activating another, I've had a very modest withdrawal target set (always less than £20) since late November on my GEIA. It seems to result in an initial "flurry" of sales, and then nothing - relying almost entirely on repayments, which due to another bug don't actually trigger a funds transfer to the cash account when a withdrawal target is set. In terms of my present withdrawal target, this was set on 21 Dec. This resulted in an immediate transfer of £1.94735... to the cash account. This was followed the next day (22 Dec) by sales of a total of 7 parts of loan 112 of a few pence each (totalling £0.30), each of which was individually and separately transferred to the cash account. In the meantime, since then, repayments have accumulated, and the system makes no attempt to transfer the resulting cash balance to my cash account, nor is there any evidence it is attempting to sell any further parts of any loans in order to raise the remaining withdrawal target. As of right now, I have a remaining withdrawal target of £18.08, and a cash balance ("awaiting investment") within my GEIA of just over £0.49. If the system is supposed to be making any attempt whatsoever to do any action that might result in part of the remaining £18.08 being able to be transferred to my cash account, any evidence for it is invisible to me - even though nearly 50p should be found immediately available towards this when the system does the obvious "sanity check" that would be expected. If "dust" transactions are deemed necessary by the system designers, I would also strongly prefer them to be kept within the individual investment accounts... if the system is going to individually sell a penny here and a penny there, it would be nice if it would at the very least wait until the current "batch" of transactions has completed before transferring the aggregate total to the cash account, rather than doing it every single time!
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mikeb
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Post by mikeb on Jan 9, 2015 19:03:05 GMT
There's a lot of "reverting" going on regarding this green account. I wonder what we will be changing back into. Bruce Banner? Revert, from the French, "to make green again" ??
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Vero
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Post by Vero on Jan 9, 2015 19:09:48 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. Jan 9, 2015 17:39:50 GMT sand2880 said:
I too put my Green account into withdrawal stage in early December and initially there was some liquidity maybe due to people trying the green account, however, no sales have occurred since 10th December.
Ditto baz657 and sand2880, I cashed out my £100 GEIA in November but nothing has sold since 5 December:-
GEIA update: (mikes1531)
£58.73 still awaiting withdrawal at 9 January 2015 - nothing sold in a month
Previous positions: £58.73 still awaiting withdrawal at 9 December 2014 - nothing sold in 4 days
£58.79 still awaiting withdrawal at 5 December 2014 - so £0.06 sold in 4 days
£62.35 still awaiting withdrawal at 27 November 2014 - so £3.56 sold in 8 days
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bugs4me
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Post by bugs4me on Jan 9, 2015 21:20:39 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. Jan 9, 2015 17:39:50 GMT sand2880 said:
I too put my Green account into withdrawal stage in early December and initially there was some liquidity maybe due to people trying the green account, however, no sales have occurred since 10th December.
Ditto baz657 and sand2880, I cashed out my £100 GEIA in November but nothing has sold since 5 December:-
GEIA update: (mikes1531)
£58.73 still awaiting withdrawal at 9 January 2015 - nothing sold in a month
Previous positions: £58.73 still awaiting withdrawal at 9 December 2014 - nothing sold in 4 days
£58.79 still awaiting withdrawal at 5 December 2014 - so £0.06 sold in 4 days
£62.35 still awaiting withdrawal at 27 November 2014 - so £3.56 sold in 8 days Thanks for the feedback although not good. Think somewhere down the line AC will need to come up with a simple solution to this. Okay not an instant exit but at least a relatively decent timeframe as you could (in theory) be waiting until maturity of these loans. GEIA would suit me fine for a certain percentage of P2P funds but I think it's only fair to have a defined exit route albeit with (smallish) possible penalties if the worst came to the worst and that exit route in plain simple ABC language does not exist ATM.
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mikes1531
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Post by mikes1531 on Jan 9, 2015 21:50:49 GMT
GEIA would suit me fine for a certain percentage of P2P funds but I think it's only fair to have a defined exit route albeit with (smallish) possible penalties if the worst came to the worst and that exit route in plain simple ABC language does not exist ATM. Being able to sell at a discount should solve the problem easily. Inasmuch as AC had that facility with their previous system, I'm really surprised it is taking them so long to re-enable it on the new system.
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niceguy37
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Post by niceguy37 on Jan 9, 2015 22:15:20 GMT
GEIA would suit me fine for a certain percentage of P2P funds but I think it's only fair to have a defined exit route albeit with (smallish) possible penalties if the worst came to the worst and that exit route in plain simple ABC language does not exist ATM. Being able to sell at a discount should solve the problem easily. Inasmuch as AC had that facility with their previous system, I'm really surprised it is taking them so long to re-enable it on the new system. Or if cash invested into GEIA's first bought up the holdings of those GEIA's waiting to exit.
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bugs4me
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Post by bugs4me on Jan 9, 2015 22:33:36 GMT
Being able to sell at a discount should solve the problem easily. Inasmuch as AC had that facility with their previous system, I'm really surprised it is taking them so long to re-enable it on the new system. Or if cash invested into GEIA's first bought up the holdings of those GEIA's waiting to exit. Somewhere on this thread IIRC correctly that idea has been mentioned more than once before but AC have never bitten.
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pikestaff
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Post by pikestaff on Jan 10, 2015 8:26:05 GMT
Or if cash invested into GEIA's first bought up the holdings of those GEIA's waiting to exit. Somewhere on this thread IIRC correctly that idea has been mentioned more than once before but AC have never bitten. I agree this is what should happen. It seems to me pretty fundamental that this type of packaged product, aimed at a more mass market, should maximise lenders' liquidity in this way. If it does not, there will be trouble down the line.
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sl75
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Post by sl75 on Jan 12, 2015 16:06:39 GMT
As of right now, I have a remaining withdrawal target of £18.08, and a cash balance ("awaiting investment") within my GEIA of just over £0.49. I've found yet another bug (or missing functionality) in this area. Following a further repayment today, I decided to release the "stuck" funds. The mechanism that previously worked for this was to cancel the existing withdrawal target and immediately re-instate a new one. However, this time, the system used the intervening few seconds to re-invest almost all the funds before I could set a new target to "unstick" them. A transaction of a fraction of a penny occurred as a transfer to the cash account. Perhaps there should be some mechanism to change the withdrawal target, without cancelling the target altogether, so that the system won't re-invest any funds it has access to in the moment between cancelling the old withdrawal target and setting a new one. This would become very much an edge case if they fix the bugs causing an uninvested balance to accrue on an account with an investment target set, as in that case it would be triggered only if a repayment or sale occurred in the moments between cancelling one withdrawal target and setting a new one. Maybe it could be useful just to have a global on/off switch for the GEIA (similar to the global on/off switch on individual loans within the MLIA) - when switched off, it would simply accumulate repayments within the account which the user can later transfer (as a single large transaction rather than dozens or hundreds of small transactions) to the cash account.
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