Green Energy Investment Account is live

alison
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Sanctuary!!

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Green Energy Investment Account is live Nov 17, 2014 17:49:26 GMT

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Post by alison on Nov 17, 2014 17:49:26 GMT

Nov 17, 2014 17:40:31 GMT sl75 said:

With second £10 (and presumably a tweak from chris ?) I saw different odd behaviour:

17th Nov 2014 at 17:29 Purchase loan part 1801330 (old id 1800531) for 0.27 GBP - principal 0.27, annualised rate 9.500, loan: N*** L*** Wind Turbine (90) £-0.27
17th Nov 2014 at 17:29 Purchase loan part 1801252 (old id 1799349) for 0.33 GBP - principal 0.33, annualised rate 9.750, loan: S****** Wind Turbine (106) £-0.33
17th Nov 2014 at 17:29 Purchase loan part 1801181 (old id 1800830) for 0.42 GBP - principal 0.42, annualised rate 9.750, loan: F****** Wind Turbine Loan (127) £-0.42
17th Nov 2014 at 17:29 Purchase loan part 1801110 (old id 1800762) for 0.52 GBP - principal 0.52, annualised rate 9.750, loan: C****** Wind Turbine Loan (125) £-0.52
17th Nov 2014 at 17:29 Purchase loan part 1801039 (old id 1800695) for 0.65 GBP - principal 0.65, annualised rate 9.750, loan: A****** Wind Turbine (93) £-0.65
17th Nov 2014 at 17:28 Purchase loan part 1800968 (old id 1800079) for 0.82 GBP - principal 0.82, annualised rate 9.500, loan: N*** L*** Wind Turbine (90) £-0.82
17th Nov 2014 at 17:28 Purchase loan part 1800898 (old id 1763435) for 1.02 GBP - principal 1.02, annualised rate 9.750, loan: S****** Wind Turbine (106) £-1.02
17th Nov 2014 at 17:28 Purchase loan part 1800829 (old id 1800381) for 1.28 GBP - principal 1.28, annualised rate 9.750, loan: F****** Wind Turbine Loan (127) £-1.28
17th Nov 2014 at 17:27 Purchase loan part 1800761 (old id 1800306) for 1.60 GBP - principal 1.60, annualised rate 9.750, loan: C****** Wind Turbine Loan (125) £-1.60
17th Nov 2014 at 17:27 Purchase loan part 1800694 (old id 1800612) for 2.00 GBP - principal 2.00, annualised rate 9.750, loan: A****** Wind Turbine (93) £-2.00
17th Nov 2014 at 17:27 Inter account transfer from cash account £10.00

Looks like it was using 20% of GEIA "Awaiting Investment" as the limit on each transaction instead of 20% of GEIA total, or something like that?

It did seem to correctly avoid buying more "M******* Wind Turbine (112)" though (which following the second £10 transfer now represents 50% of my GEIA)

Exactly the same amounts on the same loan parts bought in the same sequence for me.

Consistency!!

chris
Representative of Assetz Capital

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Green Energy Investment Account is live Nov 17, 2014 17:49:28 GMT

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Post by chris on Nov 17, 2014 17:49:28 GMT

Nov 17, 2014 17:47:38 GMT niceguy37 said:

Nov 17, 2014 17:44:06 GMT delboy711 said:

Does that mean AC will store up the interest and then pay it all out on a given day, like ThinCats? Not very efficient, as far as re-investing goes. And an extra processing that causes delays and significant admin over-head at TC.

No, you'll receive interest repayments as loans make repayments. I think that sentence was indicating that only loans with monthly repayments are included in the product.

Former CTO of one of the platforms posting in a personal capacity.

delboy711

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Green Energy Investment Account is live Nov 17, 2014 17:50:18 GMT baz657 likes this

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Post by delboy711 on Nov 17, 2014 17:50:18 GMT

Nov 17, 2014 17:36:35 GMT merlin said:

Nov 17, 2014 16:59:35 GMT niceguy37 said:

That was brave!

Some may say foolhardy given all the screw-ups since the launch of the new platform!

I would prefer to describe myself as 'trusting' in Assetz Capital to sort out the inevitable early glitches.

niceguy37
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Green Energy Investment Account is live Nov 17, 2014 18:00:49 GMT

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Post by niceguy37 on Nov 17, 2014 18:00:49 GMT

Nov 17, 2014 15:15:24 GMT chris said:

And has a provision fund. Discuss!

Once the software has been debugged it might provide interesting competition for RateSetter's 3 year loan. RS is currently offering in the region of 4% for 3 years and 5.9% for 5 years, but they are well established, and their software is slick and relatively bug-free. Their big selling point is their Provision Fund which is well financed and has a sound history.

Although a loss is unlikely for the green energy market there are a smaller number of large loans, so it is conceivable that a single default could swamp AC's provision fund. Also I imagine some investors will not be comfortable with the clause: "Any excess cash or other assets held above this level may be drawn to Assetz SME Capital Limited from time to time and will not be repaid to APFL."

I expect some NISA investors will be very interested in the Green Account.

baz657 Member of DD Central Posts: 500 Likes: 189	Green Energy Investment Account is live Nov 17, 2014 18:01:21 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by baz657 on Nov 17, 2014 18:01:21 GMT 7% gross... with a safety net... all off the back of green investments? If AC have got the marketing right on this stand well clear of the doors - it'll be like the first day of the sales.
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batchoy

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Green Energy Investment Account is live Nov 17, 2014 18:02:12 GMT

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Post by batchoy on Nov 17, 2014 18:02:12 GMT

Nov 17, 2014 17:50:18 GMT delboy711 said:

Nov 17, 2014 17:36:35 GMT merlin said:

Some may say foolhardy given all the screw-ups since the launch of the new platform!

I would prefer to describe myself as 'trusting' in Assetz Capital to sort out the inevitable early glitches.

Glitches aren't inevitable, they are a sign of a poor/non-extant testing particularly within self contained systems.

mike
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Green Energy Investment Account is live Nov 17, 2014 18:27:18 GMT bracknellboy, Come_on_Grandad, and 7 more like this

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Post by mike on Nov 17, 2014 18:27:18 GMT

I'm no shrinking violet when it comes to being critical where it's due but the steady stream of negativity towards AC can get counter productive. They engage better and more often than probably any other platform on this forum. That's something I want to see continue and I hope it does!!

baz657
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Green Energy Investment Account is live Nov 17, 2014 18:43:14 GMT

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Post by baz657 on Nov 17, 2014 18:43:14 GMT

I've put a couple of hundred quid into this to see what it's like for potential investors I know of who are mad on green projects but don't have a clue on getting a decent return on their investments.

It's nice and easy for them but I wonder who might pick up on their statement summaries (my bold) ...

17th Nov 2014 at 18:32 Purchase loan part 1806923 (old id 1806528) for 3.44 GBP - principal 3.44, annualised rate 9.750, loan: C**** Wind Turbine Loan (125) £-3.44

17th Nov 2014 at 18:32 Purchase loan part 1806857 (old id 1806463) for 4.29 GBP - principal 4.29, annualised rate 9.750, loan: A**** Wind Turbine (93) £-4.29

17th Nov 2014 at 18:32 Purchase loan part 1806791 (old id 1806399) for 5.37 GBP - principal 5.37, annualised rate 9.750, loan: M**** Wind Turbine (112)£-5.37

17th Nov 2014 at 18:32 Purchase loan part 1806725 (old id 1805461) for 6.71 GBP - principal 6.71, annualised rate 9.500, loan: N**** Wind Turbine (90) £-6.71

... and wonder what that annualised rate means - surely that needs to be removed from the green investors statements? It's small and simple things like this that should have been picked up on basic testing that makes others look deeper for more faults.

Last Edit: Nov 17, 2014 18:45:48 GMT by baz657

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baz657
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Green Energy Investment Account is live Nov 17, 2014 18:50:19 GMT

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Post by baz657 on Nov 17, 2014 18:50:19 GMT

Also it's unclear - is the 7% payable from day one?

£13.76
Awaiting Investment
+
£186.24
Currently Invested
=
£200.00
Total Investment
7.0%
Current Rate

From the dashboard it's not clear if I'm getting 7% right now only on £186.24 or on the full £200.00.

Last Edit: Nov 17, 2014 18:51:07 GMT by baz657

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johnny

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Green Energy Investment Account is live Nov 17, 2014 18:51:20 GMT

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Post by johnny on Nov 17, 2014 18:51:20 GMT

Nov 17, 2014 15:49:00 GMT batchoy said:

I find somewhat ironic that in the early days of AC we were regularly informed as to why the AC model with no provision fund was better than the RS and Zopa models with provision funds and if memory servers there were even pages on the old website devoted to why provision funds were not all they were cracked up to be and now low and behold AC are offering a product with a provision fund. Oh and by the way wounldn't be better to fix what is already their so that it works properly before adding more to it?

Its not just a provision fund, its an Assetz Capital provision fund!!!!

j
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Green Energy Investment Account is live Nov 17, 2014 19:06:10 GMT

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Post by j on Nov 17, 2014 19:06:10 GMT

From AC email:

Automatic inclusion in a separate provision fund to protect investors from income delays or income and/or capital losses on a discretionary basis.

I can see the appeal to certain clientele in this fund but, a choice of doing a little bit or work/reading CR, etc & earning an extra 2.5-3% for it, I know which would be my choice.

All that glitters is not gold!

mikeb Posts: 1,072 Likes: 472	Green Energy Investment Account is live Nov 17, 2014 19:11:20 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by mikeb on Nov 17, 2014 19:11:20 GMT Nov 17, 2014 17:03:18 GMT oldgrumpy said: ... I'd better switch off the computer or I'll have Andrew gunning for me. If we all end up on the "naughty step", you know that we expect you to supply the bananas, right?

chris
Representative of Assetz Capital

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Green Energy Investment Account is live Nov 17, 2014 19:24:24 GMT

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Post by chris on Nov 17, 2014 19:24:24 GMT

Nov 17, 2014 18:50:19 GMT baz657 said:

Also it's unclear - is the 7% payable from day one?

£13.76
Awaiting Investment
+
£186.24
Currently Invested
=
£200.00
Total Investment
7.0%
Current Rate

From the dashboard it's not clear if I'm getting 7% right now only on £186.24 or on the full £200.00.

It's on whatever is currently invested not the full £200. There should be plenty of supply at the moment though so it shouldn't be hard to deploy your funds.

Former CTO of one of the platforms posting in a personal capacity.

chris
Representative of Assetz Capital

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Green Energy Investment Account is live Nov 17, 2014 19:25:38 GMT

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Post by chris on Nov 17, 2014 19:25:38 GMT

Nov 17, 2014 19:06:10 GMT j said:

From AC email:

Automatic inclusion in a separate provision fund to protect investors from income delays or income and/or capital losses on a discretionary basis.

I can see the appeal to certain clientele in this fund but, a choice of doing a little bit or work/reading CR, etc & earning an extra 2.5-3% for it, I know which would be my choice.

Every provision fund in the industry, as I understand it, is on a discretionary basis. There are legal and compliance reasons.

Former CTO of one of the platforms posting in a personal capacity.

chris
Representative of Assetz Capital

Posts: 3,658

Likes: 2,391

Green Energy Investment Account is live Nov 17, 2014 19:27:06 GMT

Quote

Post by chris on Nov 17, 2014 19:27:06 GMT

Nov 17, 2014 18:43:14 GMT baz657 said:

I've put a couple of hundred quid into this to see what it's like for potential investors I know of who are mad on green projects but don't have a clue on getting a decent return on their investments.

It's nice and easy for them but I wonder who might pick up on their statement summaries (my bold) ...

17th Nov 2014 at 18:32 Purchase loan part 1806923 (old id 1806528) for 3.44 GBP - principal 3.44, annualised rate 9.750, loan: C**** Wind Turbine Loan (125) £-3.44

17th Nov 2014 at 18:32 Purchase loan part 1806857 (old id 1806463) for 4.29 GBP - principal 4.29, annualised rate 9.750, loan: A**** Wind Turbine (93) £-4.29

17th Nov 2014 at 18:32 Purchase loan part 1806791 (old id 1806399) for 5.37 GBP - principal 5.37, annualised rate 9.750, loan: M**** Wind Turbine (112)£-5.37

17th Nov 2014 at 18:32 Purchase loan part 1806725 (old id 1805461) for 6.71 GBP - principal 6.71, annualised rate 9.500, loan: N**** Wind Turbine (90) £-6.71

... and wonder what that annualised rate means - surely that needs to be removed from the green investors statements? It's small and simple things like this that should have been picked up on basic testing that makes others look deeper for more faults.

It has been picked up on during our testing and it has been a conscious decision to leave it as is. There are many factors pulling the "right" thing in many directions, from legal and compliance reasons through to business, commercial, usability, etc.

Former CTO of one of the platforms posting in a personal capacity.

Green Energy Investment Account is live

Post by alison on Nov 17, 2014 17:49:26 GMT

Post by chris on Nov 17, 2014 17:49:28 GMT

Post by delboy711 on Nov 17, 2014 17:50:18 GMT

Post by niceguy37 on Nov 17, 2014 18:00:49 GMT

Post by baz657 on Nov 17, 2014 18:01:21 GMT

Post by batchoy on Nov 17, 2014 18:02:12 GMT

Post by mike on Nov 17, 2014 18:27:18 GMT

Post by baz657 on Nov 17, 2014 18:43:14 GMT

Post by baz657 on Nov 17, 2014 18:50:19 GMT

Post by johnny on Nov 17, 2014 18:51:20 GMT

Post by j on Nov 17, 2014 19:06:10 GMT

Post by mikeb on Nov 17, 2014 19:11:20 GMT

Post by chris on Nov 17, 2014 19:24:24 GMT

Post by chris on Nov 17, 2014 19:25:38 GMT

Post by chris on Nov 17, 2014 19:27:06 GMT