Green Energy Investment Account is live

There are at least two statements in the proposition that, at this time appear incorrect:
1. "circa 20% maximum investment per individual loan is the minimum diversification the system will achieve for you" (in reality it will was reported to have bought substantially more than 20% of a single loan relatively recently, albeit in tranches not exceeding 20% each)
2. "If after your initial purchase you would like to increase or decrease the amount invested in your account then, subject to availability and demand, you may do so" (in reality, despite substantial demand for most of the loans in the GEIA it is impossible to decrease the amount invested by a meaningful amount).

If AC don't consider these a priority and thus not worth fixing right now, perhaps it could be appropriate for them (andrewholgate?) to issue an official statement saying that the GEIA doesn't currently work as advertised, and what any users who are affected by this should do in order to work around it.

These 2 seem pretty fundamental, as the proposition forms the basis on which lenders made their lending decision. Perhaps, as with individual loans where lenders can vote on whether to allow a breach of terms, AC could ask lenders to vote on whether the GEIA should be allowed to breach these terms (and if so for how long!).

There are of course other bugs (such as repayments not counting towards a withdrawal target, and GEIA holdings interfering with the MLIA calculations when selling) which I'd agree are not a particularly high priority until or unless the same code is intended to be reused in other accounts.

chris how is the problem I emailed AC about last week progressing? (my  geia not selling *anything*, even though it has be set to sell everything for 2 nearly months)
(+ the 'stuck' loans not selling in MLIA either)

best regards
DAve

1. Another user posted an example earlier in this thread: p2pindependentforum.com/post/34509
2. This excuse worked when the bulk of almost all users' GEIA holdings were 5 or more loans that at the time were available in large quantities on the after-market. However, over the last few weeks, it's become less and less plausible, and is now demonstrably false (several of the WT loans have no availability in the after-market, but the GEIA still does not sell them [Edit: as also mentioned again by dave above while I was writing this post]).

Obviously, I cannot tell whether (2) is best described as "the GEIA has calculated the wrong target" or "the target the GEIA calculated is being ignored and/or interpreted incorrectly", because the relevant information is not visible to me.

The issue seems to be common to the MLIA and the GEIA with regard the WT loans. I have all my holdings set to sell since mid December and have sold little bar a few pence worth here and there from my MLIA and nothing from my GEIA. I can understand it is the luck of the draw when it comes to WT loans with large sums available, but I hold a number that have apparently nothing for sale in the market and yet they are not selling.

Over the past week or so I have tried various combinations of stopping the sales requests in my MLIA and GEIA to see if the combination of having the same loan for sale in both was causing the lack of a sale, but all this was to no avail. 

In the MLIA Montrose, Falmouth, Cornwall all of them down to sub £5 and Sub £1 amounts due to the shrapnelator selling down three and four figure holdings in weird small amounts. In the GEIA every eligible WT loan again sub £10 amounts.  

I decided to look into this a little more.

GEIA awaiting withdrawel of £568.

I have 9 Wind Turbine loans in total. 93, 112, 83, 125, 121, 77, 127, 90 & 106.
Loans 93 & 112 have £168k and £463k available to buy with the rest showing 0 or very small amounts.

The GEIA has only ever sold 93 and 112 back on 8th December and 10th December. No sales since.

112 represents 20.8% of the portfolio value. 93 is the next biggest holding at 19.8%.

My gut reaction is that the account wont sell any other of the loans until loan 112 has had a sale to reduce its weighting under 20% and due to the £463k available Im dependent upon luck to sell and behind any underwriter trying to sell.

Therefore, Im trapped in until loan 112's availability reduces.

I would have though that if you attempt to sell all your holdings in the account, it should do this first ignoring the 20% rule and sell down when it can.

It would be interesting to see if others who have struggled to sell are also sitting on a weighting above 20% on loans 93 & 112 or that my example is just co-incidence.

Either way, I want to sell loans that have no availablity in the aftermarket and the GEIA is not doing so. It would be good if Chris could look into this and see if the 20% diversification rule is blocking sales of other loans, when he has some time as I understand he's a very busy man.

I've just listed my own GEIA holdings for sale so I'll monitor how it progresses over the next few days.  If it doesn't sell as I would expect it to then I'll prioritise making some changes to aid that.