mikes1531
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Post by mikes1531 on Jan 19, 2015 13:11:54 GMT
Yes, £10069 was yesterday the total value including accrued. The accrued interest was exactly £30. : Further to the questions I raised yesterday, what is today's value for the accrued interest?
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Post by westcountryfunder on Jan 19, 2015 13:18:02 GMT
Yes, £10069 was yesterday the total value including accrued. The accrued interest was exactly £30. : Further to the questions I raised yesterday, what is today's value for the accrued interest? It's on the screenshot: £36.64
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mikes1531
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Post by mikes1531 on Jan 19, 2015 13:20:20 GMT
Yes, £10069 was yesterday the total value including accrued. The accrued interest was exactly £30. : Further to the questions I raised yesterday, what is today's value for the accrued interest? : You seem to have answered my question with your screenshot while I was asking it. Thanks. If the accrued interest is £36.64 today and £30 yesterday, that increase of £6.64/day seems unreasonably high. £6.64/day is £2,423/year and that can't be right for an account worth just over £10k.
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sl75
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Post by sl75 on Jan 19, 2015 13:34:23 GMT
westcountryfunder: Further to the questions I raised yesterday, what is today's value for the accrued interest? : You seem to have answered my question with your screenshot while I was asking it. Thanks. If the accrued interest is £36.64 today and £30 yesterday, that increase of £6.64/day seems unreasonably high. £6.64/day is £2,423/year and that can't be right for an account worth just over £10k. Unless the entire weekend accrues at the same time (3 days' interest)...?
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Post by westcountryfunder on Jan 19, 2015 15:00:20 GMT
westcountryfunder: Further to the questions I raised yesterday, what is today's value for the accrued interest? : You seem to have answered my question with your screenshot while I was asking it. Thanks. If the accrued interest is £36.64 today and £30 yesterday, that increase of £6.64/day seems unreasonably high. £6.64/day is £2,423/year and that can't be right for an account worth just over £10k. Fair comment. But what I admit I had not immediately noticed is that the amount invested has REDUCED by exactly £4.00, which does make an overall increase of £2.64 look more feasible. Here is today's spreadsheet. Attachments:AC_GEIA1901.ods (16.62 KB)
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bigfoot12
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Post by bigfoot12 on Jan 19, 2015 15:06:36 GMT
My guess is that the accrued interest shown on the desktop doesn't work correctly for Green Accounts (ie it accrues at the full loan rate not 7%). If the average green loan is 9.75%, and then you calculate 7/9.75 of that accrued interest the rate gets quite close to 7%.
Another possibility is did you have any loans in your manual account which still have to pay interest - some for example pay at maturity.
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bigfoot12
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Post by bigfoot12 on Jan 19, 2015 15:07:48 GMT
Fair comment. But what I admit I had not immediately noticed is that the amount invested has REDUCED by exactly £4.00, which does make an overall increase of £2.64 look more feasible. Here is today's spreadsheet. Did a payment happen?
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mikes1531
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Post by mikes1531 on Jan 19, 2015 15:23:53 GMT
... what I admit I had not immediately noticed is that the amount invested has REDUCED by exactly £4.00, which does make an overall increase of £2.64 look more feasible. It does indeed. I can't imagine the circumstance that would cause the amount invested to reduce by £4 other than if some holding were sold. But that, of course, should have resulted in £4 of cash in the account. Perhaps there was an previous error that was corrected. Does the GEIA statement show any activity that would help explain what happened? Was there an interest payment received? The net result, however, of a £2.64 increase is consistent with interest accruing at the full loan rate rather than the 7% GEIA rate. This would cause the rate of return calculated by including accrued interest to be high. The effect would be very significant early in the account's life, when most (or all) of the interest earned is accrued, and decrease as the account matures. In the meantime, I'd suggest emailing AC directly, asking them to explain why the amount shown as invested had decreased. I'd also ask whether the accrued interest is calculated based on the loans' rates or the 7% GEIA rate.
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Post by westcountryfunder on Jan 19, 2015 15:28:09 GMT
Fair comment. But what I admit I had not immediately noticed is that the amount invested has REDUCED by exactly £4.00, which does make an overall increase of £2.64 look more feasible. Here is today's spreadsheet. Did a payment happen? There is no activity showing at all today on the GEIA statement, so far. All that has happened is the increase in accrued interest of £6.64 offset partly by reduction in amount invested of £4.00. Presumably this has something to do with the weekend. On the spreadsheet you can see that the return has varied at irregular intervals between 7.30% and 7.89%, or apparently even better than that according to XIRR. I suspect that greater consistency will become apparent as time goes on.
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Post by westcountryfunder on Jan 19, 2015 15:30:31 GMT
My guess is that the accrued interest shown on the desktop doesn't work correctly for Green Accounts (ie it accrues at the full loan rate not 7%). If the average green loan is 9.75%, and then you calculate 7/9.75 of that accrued interest the rate gets quite close to 7%. Another possibility is did you have any loans in your manual account which still have to pay interest - some for example pay at maturity. Maybe you are right about about the GEIA desktop not working correctly. However I can confirm it is nothing to do with the manual account as I operate this particular AC a/c purely for GEIA.
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sl75
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Post by sl75 on Jan 23, 2015 10:10:04 GMT
Found another aspect of the GEIA withdrawal bugs... might as well report here, as the email channels don't seem to work any better... Due to a change in short-term priorities, I'm now a little more active in releasing cash from various investments, and (whenever the GEIA actually starts trying to sell stuff) I'll be exiting it completely, keeping all investment in the MLIA for now (which seems generally to work broadly as intended) until or unless any other accounts get launched. To avoid one withdrawal bug (where repayments end up sitting as idle cash within the GEIA rather than triggering a withdrawal towards the target), I tried setting the "On repayment" setting to "Withdraw repayments". Now, when a repayment occurs, it is in fact successfully withdrawn, but the withdrawal target remains unchanged. Undoubtedly another symptom of the same bug reported previously... and also potentially indicates an ambiguity in specification... If I have (say) £200 invested in my GEIA and I ask to withdraw £50, am I asking the GEIA to reduce its value to £150, or am I asking to have £50 returned from the GEIA to my cash account? The difference is important if any repayments occur in between setting the target and reaching the target. The other withdrawal-related bug discussed here (whereby the GEIA appears to make no attempt to sell loan units - possibly related to holding the same loans in the MLIA?) makes it almost certain that repayments will occur whilst awaiting almost any withdrawal target so that the interpretation of the request will be relevant, and the withdrawal bug(s) observed. I wonder how chris and his team are getting on with fixing the numerous bugs in the GEIA? |
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acorn
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Post by acorn on Jan 23, 2015 12:15:02 GMT
I think David R suggested that Chris isn't well ATM, as the E T****** interest payment is waiting for his input.
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Post by davidricketts1 on Jan 23, 2015 14:46:21 GMT
I think David R suggested that Chris isn't well ATM, as the E T****** interest payment is waiting for his input.
Payment has been made (I got some input from chris off his sick bed).
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gt94sss2
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Post by gt94sss2 on Jan 27, 2015 14:30:47 GMT
Well after posting my first 10 transactions on my account which took place on the first day (14 Jan) - I am now upto 1240 transactions within 3 days - and my uninvested amount keeps changing up/down- currently £1.66 but it has been higher - I've seen £5 (5% uninvested) I believe. So if anyone is keeping track of my experiences. On 17 Jan, I increased my investment from £100 to £1000. Since then the level uninvested has gone up and down (i've seen £150 to £5) - currently £14.50. However, I am now up to 2360 entries over 48 pages so have no idea of how much of what I actually own...!
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mikes1531
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Post by mikes1531 on Jan 28, 2015 0:04:14 GMT
Well after posting my first 10 transactions on my account which took place on the first day (14 Jan) - I am now upto 1240 transactions within 3 days - and my uninvested amount keeps changing up/down- currently £1.66 but it has been higher - I've seen £5 (5% uninvested) I believe. So if anyone is keeping track of my experiences. On 17 Jan, I increased my investment from £100 to £1000. Since then the level uninvested has gone up and down (i've seen £150 to £5) - currently £14.50. However, I am now up to 2360 entries over 48 pages so have no idea of how much of what I actually own...! Thanks for sharing the antics of your GEIA with us. My odd behaviour this week can be seen in the screen shot below. There have been Aberdeenshire WT parts for sale continuously for some time. So why did my GEIA buy a Montrose part first and then decide to exchange some of that for Aberdeenshire -- presumably because it though my account was overweight in Montrose. Since the Aberdeenshire would have been available at the time the Montrose was bought, why didn't it buy that in the first instance? One can't help but think that the value of the GEIA is being measured by the number of transactions it initiates! chris: Are you/AC happy with the way the GEIA is working? Or are there going to be adjustments made in an attempt to get it to operate more efficiently? And is any attention being given to the current difficulty of reducing a GEIA investment? In short, is it a case of WYSIWYG? Or are improvements in the pipeline? Attachments:
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