|
Post by Ace on Feb 11, 2021 18:28:32 GMT
Hi - I've just started investing on Elfin today, only £100. I hope to post updates where I can and also follow your experiences. I've followed this P2P forum for many years (I previously worked at a major P2P) but haven't ever really posted before. Welcome to the forum scm505, it's good to know that working in the industry hasn't put you off investing.
|
|
|
Post by df on Feb 12, 2021 14:13:25 GMT
Obviously early days but has anyone given this platform a go. Thanks. Yes, I made a small investment to test them out back in Feb. My current XIRR is 8.05%. They've cut lending somewhat during the crisis. My funds are currently 83% employed. What is your current cash drag now?
|
|
mrdc
Member of DD Central
Posts: 73
Likes: 33
|
Post by mrdc on Feb 12, 2021 14:24:22 GMT
Yes, I made a small investment to test them out back in Feb. My current XIRR is 8.05%. They've cut lending somewhat during the crisis. My funds are currently 83% employed. What is your current cash drag now? 65% at the moment. It's been about that for a couple of weeks but i have got my first maturity due next week so perhaps they free up funds in advance. I did think about withdrawing the queued funds and reinvesting but was interested to see how the maturities work.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,846
Likes: 11,075
|
Post by ilmoro on Feb 12, 2021 14:33:19 GMT
Mines 66% but nearly all the undeployed relate to an investment ending on Mon. Looks like they release the funds in advance. Of my ongoing investments one is 100%, the other is 99.8%, so cash drag of .01%. Take that
|
|
|
Post by Ace on Feb 12, 2021 14:37:50 GMT
Yes, I made a small investment to test them out back in Feb. My current XIRR is 8.05%. They've cut lending somewhat during the crisis. My funds are currently 83% employed. What is your current cash drag now? My overall stats currently say that I'm 100.3% invested. I hadn't realised this before, but they obviously measure this against the original investment (ignoring the accumulated interest payments which are being reinvested). My most recent investment (4th Feb 2021) is 100% invested.
|
|
mrdc
Member of DD Central
Posts: 73
Likes: 33
|
Post by mrdc on Feb 12, 2021 14:40:37 GMT
Mines 66% but nearly all the undeployed relate to an investment ending on Mon. Looks like they release the funds in advance. Of my ongoing investments one is 100%, the other is 99.8%, so cash drag of .01%. Take that Yes i thought it might work like that. As they release funds next maturity i will probably withdraw and reinvest to avoid the drag.
|
|
|
Post by Ace on Feb 12, 2021 14:50:09 GMT
My 1 year investment that is due to mature in 3 days time is currently 95.4% invested.
|
|
scm505
New Member
Posts: 3
Likes: 3
|
Post by scm505 on Feb 12, 2021 14:58:25 GMT
Hi - I've just started investing on Elfin today, only £100. I hope to post updates where I can and also follow your experiences. I've followed this P2P forum for many years (I previously worked at a major P2P) but haven't ever really posted before. Welcome to the forum scm505 , it's good to know that working in the industry hasn't put you off investing. Thank you! No it hasn't put me off - though I've lost my 'reference points' to the market. I was at RateSetter and obviously my time as an investor on the platform ends on 2 April. I'm only in AC now having left Zopa. So I'm trying to find new alternatives to have a go with.
|
|
mrdc
Member of DD Central
Posts: 73
Likes: 33
|
Post by mrdc on Feb 12, 2021 15:02:01 GMT
My 1 year investment that is due to mature in 3 days time is currently 95.4% invested. Thats my theory shattered.
|
|
|
Post by df on Feb 12, 2021 17:34:04 GMT
My next interest has jumped to about 2.5 times Jan, XIRR jumps from 6.5 to 8.5% (Ive been topping up every few months) Right, this is enough for me, I have finally opened an account. Thanks to everyone for sharing! I have always thought the concept and people behind this platform looked promising. They have suffered from comparisons with FO, but their revolving credit and borrowers are not the same market as payday loans. I was reading this thread for a year and now decided to put my Welendus(FO) stigma aside and give this platform a try. EDIT: the eligibility questionnaire was the funniest I've seen so far. Can't remember the exact wording, but something in line with "do I think p2p is a bunch of quacks and I'm definitely going to loose most of my capital". I've decided not to be judgmental and passed the exam
|
|
|
Post by nooneere on Feb 13, 2021 8:22:06 GMT
New Tweet from Elfin Market yesterday:
"IT'S FINALLY COMING We'll be making a huge announcement on Monday Can you guess what it might be?"
Must be the first P2P credit card - interesting times for this company.
(No one suggest "Administration" please.)
|
|
|
Post by Ace on Feb 14, 2021 12:11:29 GMT
My 1 year investment that is due to mature in 3 days time is currently 95.4% invested. Oops, my mistake. This investment doesn't mature until 15th March. It was a1 year investment on 10th Feb 2020, and as all maturities are on the 15th of a month I had assumed that it would mature on 15th Feb 2021. So, theories that they run the investments down in the final month do seem likely to be true. Sorry for misleading you all 😔
|
|
Greenwood2
Member of DD Central
Posts: 4,243
Likes: 2,686
|
Post by Greenwood2 on Feb 14, 2021 13:38:47 GMT
My 1 year investment that is due to mature in 3 days time is currently 95.4% invested. Oops, my mistake. This investment doesn't mature until 15th March. It was a1 year investment on 10th Feb 2020, and as all maturities are on the 15th of a month I had assumed that it would mature on 15th Feb 2021. So, theories that they run the investments down in the final month do seem likely to be true. Sorry for misleading you all 😔 I seem to remember reading somewhere (in the T&Cs?) that they only invest funds for at least a month so any lender funds that become available within the last month are not re-invested.
|
|
mrdc
Member of DD Central
Posts: 73
Likes: 33
|
Post by mrdc on Feb 14, 2021 16:23:57 GMT
My 1 year investment that is due to mature in 3 days time is currently 95.4% invested. Oops, my mistake. This investment doesn't mature until 15th March. It was a1 year investment on 10th Feb 2020, and as all maturities are on the 15th of a month I had assumed that it would mature on 15th Feb 2021. So, theories that they run the investments down in the final month do seem likely to be true. Sorry for misleading you all 😔 You might have a nice suprise when they put the march interest payment on display in a couple of days time. Both myself and ilmoro noticed a larger interst amount for the final payment of maturing investments
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,846
Likes: 11,075
|
Post by ilmoro on Feb 15, 2021 10:21:08 GMT
So first investment has reached expiry - options to reinvest or withdrawal, and then option to reinvest or withdrawal interest.
Reinvested capital and withdrawn interest just to test process.
Edit - very fast, withdrawal in my account almost instantly.
|
|