sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Mar 15, 2015 20:13:32 GMT
Hi folks, This post popped-up when I searched Google for the Assetz Green Energy Income product. I'm keen to sound out experienced p2p investors about this product. By way of comparison, I looked at some of the investment opportunities on Abundance Generation and Trillion Fund (e5 Energy) which offer returns in the same region. Here are my notes: Assetz Earn straightaway - no waiting for drawdown. First charge security and provision fund Diversification - though not clear how diverse. E5 Energy (Trillion Fund) Earn from next month "Secured against existing assets" - looks like first charge. Abundance Debentures - lower liquidity than say, Assetz aftermarket? Debentures - less likely to recover funds if company fails? Am I missing any other obvious differences? Thanks. Hi chingThe Assetz Green Energy Income product offers you interest at 7% pa with the benefit of a provision fund. It is designed to automatically spread your investment across a range of green energy loans (currently eleven, all wind turbines). There have been some problems with the automatic allocation, because the supply and demand of these loans varies a lot. However, with Assetz you can also invest directly in each of the 11 loans and get interest of between 9.5% and 10% pa. With this option you don't have the protection of a provision fund, but each loan has first charge security <70% LTV anyway. All lenders have visibility to both options.
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am
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Post by am on Mar 15, 2015 22:19:00 GMT
Hi folks, This post popped-up when I searched Google for the Assetz Green Energy Income product. I'm keen to sound out experienced p2p investors about this product. By way of comparison, I looked at some of the investment opportunities on Abundance Generation and Trillion Fund (e5 Energy) which offer returns in the same region. Here are my notes: Assetz Earn straightaway - no waiting for drawdown. First charge security and provision fund Diversification - though not clear how diverse. E5 Energy (Trillion Fund) Earn from next month "Secured against existing assets" - looks like first charge. Abundance Debentures - lower liquidity than say, Assetz aftermarket? Debentures - less likely to recover funds if company fails? Am I missing any other obvious differences? Thanks. The slightly surprising thing about the GEIA is that it is not unitised - instead you hold loans to various of the eligible projects. I suspect that this means that it is not as liquid as it first appears, in that any loans held that have large amounts available on the secondary market may not sell quickly. Other behaviour that has been noted is that you don't necessarily earn interest on all your investment immediately (if there are few eligible loans with parts available you have to wait until parts there are parts available - so far the delay has been no more than days), and that if you reduce your holding it may subsequently disinvest you further (I've reduced my holding recently, and today it sold off an additional 3rd of my remaining holding - I think what happens is that when you sell it sells parts in loans for which there is demand, and subsequently it sells off other parts in an attempt to balance the holdings - there is, if I recall correctly, a target of 20% in any one loan). It hasn't been seen yet, but it might be sluggish in reinvesting funds when a loan matures.
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mikes1531
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Post by mikes1531 on Mar 16, 2015 3:43:26 GMT
It hasn't been seen yet, but it might be sluggish in reinvesting funds when a loan matures. Or even when the WT loans start returning capital. The first capital repayment is 5% of the original loan, payable a year after drawdown. After that, it's paid monthly, at a rate equivalent to 5% p.a.
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shimself
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Post by shimself on Mar 16, 2015 13:56:49 GMT
In favour of the GEIA I parked some money there (£100 only), earning 7% and then transferred it to the MIA now that I have a use for it - it took about 5mins for the £100 to get into my free cash - so at present it's working like an instant access account at 7%.
But yes, it might not always do so.
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Post by Ton ⓉⓞⓃ on Mar 16, 2015 15:58:06 GMT
"Of course" there is an new loan on the horizon that I believe will be included in the GEIA; #160 Cumbrian Anaerobic Digestion Plant. This one has to be drawn by the end of the month, is expected to included a second charge of size I don't know. That loan pays 13% if held directly but only 7% if held in the GEIA.
My question is about the uninvested amount that GEIA sometimes has, is it earning 7% too? Did we ever get to an answer regarding the uninvested amounts that some lenders have in GEIA? Or do most users of the GEIA find that their money is almost always invested now?
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mikes1531
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Post by mikes1531 on Mar 16, 2015 17:21:16 GMT
My question is about the uninvested amount that GEIA sometimes has, is it earning 7% too? Did we ever get to an answer regarding the uninvested amounts that some lenders have in GEIA? Or do most users of the GEIA find that their money is almost always invested now? Inasmuch as the GEIA earns interest separately on each sub-investment, I don't see how any idle money could be earning anything. I can't say for sure, of course, because at the moment my GEIA test investment is fully invested, and has been for a while. Someone who has invested in the GEIA more recently than I may be able to shed more light on the matter.
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am
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Post by am on Mar 16, 2015 17:45:45 GMT
In favour of the GEIA I parked some money there (£100 only), earning 7% and then transferred it to the MIA now that I have a use for it - it took about 5mins for the £100 to get into my free cash - so at present it's working like an instant access account at 7%. But yes, it might not always do so. Since AC fixed the GEIA algorithm I've taken money out several times without problem (sold it down from ((IRRC) £700 to £200 in small steps), but first thing this morning I attempted to withdraw £50. 9 hours later only £30.17 has been withdrawn. (I think the problem is that when you've sold down a GEIA holding enough all (or nearly all) you have left is the Montrose WT, and it's harder to sell bits of that as there's still lots on the secondary market.)
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bugs4me
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Post by bugs4me on Mar 16, 2015 17:49:35 GMT
My question is about the uninvested amount that GEIA sometimes has, is it earning 7% too? Did we ever get to an answer regarding the uninvested amounts that some lenders have in GEIA? Or do most users of the GEIA find that their money is almost always invested now? Inasmuch as the GEIA earns interest separately on each sub-investment, I don't see how any idle money could be earning anything. I can't say for sure, of course, because at the moment my GEIA test investment is fully invested, and has been for a while. Someone who has invested in the GEIA more recently than I may be able to shed more light on the matter. From my shortish experiment in the GEIA it is only on actual investments that interest is paid. Idle money is just that - idle. The highest I achieved was 69% invested in three loans although there was a great deal of activity going on in the background. As there were no other WT's available and just one on the horizon my GEIA was effectively at the mercy of the AM. So it was easier to cash in and invest direct for higher returns albeit without the protection of the PF.
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bugs4me
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Post by bugs4me on Mar 16, 2015 17:51:21 GMT
In favour of the GEIA I parked some money there (£100 only), earning 7% and then transferred it to the MIA now that I have a use for it - it took about 5mins for the £100 to get into my free cash - so at present it's working like an instant access account at 7%. But yes, it might not always do so. Since AC fixed the GEIA algorithm I've taken money out several times without problem (sold it down from ((IRRC) £700 to £200 in small steps), but first thing this morning I attempted to withdraw £50. 9 hours later only £30.17 has been withdrawn. (I think the problem is that when you've sold down a GEIA holding enough all (or nearly all) you have left is the Montrose WT, and it's harder to sell bits of that as there's still lots on the secondary market.) IIRC correctly, somewhere in the past, AC stated that priority would be given to UW's trying to sell on the AM.
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Post by Ton ⓉⓞⓃ on Mar 16, 2015 18:34:48 GMT
A new board has been started for the TrillionFund (mentioned earlier) so far no one has posted there yet TrillionFund Board |
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bigfoot12
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Post by bigfoot12 on Mar 16, 2015 19:38:03 GMT
Since AC fixed the GEIA algorithm I've taken money out several times without problem (sold it down from ((IRRC) £700 to £200 in small steps), but first thing this morning I attempted to withdraw £50. 9 hours later only £30.17 has been withdrawn. (I think the problem is that when you've sold down a GEIA holding enough all (or nearly all) you have left is the Montrose WT, and it's harder to sell bits of that as there's still lots on the secondary market.) IIRC correctly, somewhere in the past, AC stated that priority would be given to UW's trying to sell on the AM. My memory is different. I thought that Chris said that all sellers are treated equally. The process is random, but as they are not size weighted smaller sellers are likely to sell out ahead of underwriters.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Mar 16, 2015 21:09:47 GMT
IIRC correctly, somewhere in the past, AC stated that priority would be given to UW's trying to sell on the AM. My memory is different. I thought that Chris said that all sellers are treated equally. The process is random, but as they are not size weighted smaller sellers are likely to sell out ahead of underwriters. That's how I remembered it too bigfoot12.
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Post by pepperpot on Mar 16, 2015 21:53:09 GMT
A new board has been started for the TrillionFund (mentioned earlier) so far no one has posted there yet TrillionFund Board::Shareholder Hat On:: Could we not promote the competition, especially within the Assetz board, please?  
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bugs4me
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Post by bugs4me on Mar 16, 2015 22:53:57 GMT
My memory is different. I thought that Chris said that all sellers are treated equally. The process is random, but as they are not size weighted smaller sellers are likely to sell out ahead of underwriters. That's how I remembered it too bigfoot12. This is where it came from - link
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bigfoot12
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Post by bigfoot12 on Mar 17, 2015 8:35:31 GMT
It might be that my memory is starting to go. I have had a quick search and I can't find the statement I was looking for. I think I read most of Chris' posts. I will have a more thorough search this evening.
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