ashtondav
Member of DD Central
Posts: 1,814 
Likes: 1,092
|
Post by ashtondav on May 13, 2021 9:12:52 GMT
Why the hell is this thread still going. Exit available. 0%.
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,056
Likes: 617
|
Post by dave4 on May 13, 2021 9:22:56 GMT
Given that you can now get £10Ks out of QAA in minutes without discounting are we not now back to 'normal' market conditions?
Wonder what's the hold-up with AC introducing their traffic light system?
There banner still announces pandemic market issues, there is still a fee (diminishing.)I expect that this thread will deminish when these finish ashtondav.
|
|
theta
Posts: 46
Likes: 44
|
Post by theta on Jun 7, 2021 16:31:00 GMT
this is an investment that has been partially damaged (to a debatable extent) by COVID-19 implications. Why wouldn't liquidity be impacted at par? It's fundamentally worth (probably) a bit less. All the SM will do is allow market participation at the market-assessed value whatever that may be. Indeed. Moreover, while it's hard to imagine right now, it is conceivable that the market clearing level will at some point be above par, (just like bonds trading above par). Consider a situation where virus concern is gone and the economy fully recovers, and demand for new loans can't keep up with lender inflows, so AA is rationed at the entrance rather at the exit. New investors may decide to pay say 1% premium, which means they break even after 2-3 months, which they may decide is worth it if the alternative is to have the cash earn zero. So it took less than a year to arrive at a situation where the queue is at the entrance instead of the exit.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Jun 7, 2021 16:38:34 GMT
Indeed. Moreover, while it's hard to imagine right now, it is conceivable that the market clearing level will at some point be above par, (just like bonds trading above par). Consider a situation where virus concern is gone and the economy fully recovers, and demand for new loans can't keep up with lender inflows, so AA is rationed at the entrance rather at the exit. New investors may decide to pay say 1% premium, which means they break even after 2-3 months, which they may decide is worth it if the alternative is to have the cash earn zero. So it took less than a year to arrive at a situation where the queue is at the entrance instead of the exit. Oh it's better than that. They are going to be repaying cash even if you haven't asked for it
|
|
iano
Member of DD Central
Posts: 141
Likes: 177
|
Post by iano on Jun 7, 2021 16:45:42 GMT
Wow, about 10% of my AA cash has come back out already.
|
|
ceejay
Posts: 975
Likes: 1,149
|
Post by ceejay on Jun 7, 2021 17:02:00 GMT
Oh well, I was wondering which of my savings/investments I should raid for the cash I'm going to need in a couple of weeks. Nice to have the decision made for me.
|
|
jlend
Member of DD Central
Posts: 1,840
Likes: 1,465
|
Post by jlend on Jun 7, 2021 17:46:31 GMT
It might have been better for AC to start queuing new investment into the Access accounts earlier rather than also having to reduce existing balances.
Feels like a bit of a knee jerk reaction given the scale of the reduction unless this was the plan.
|
|
eeyore
Member of DD Central
Posts: 799
Likes: 805
|
Post by eeyore on Jun 7, 2021 18:08:08 GMT
I'm annoyed!
It comes as a rude shock for those who maintained their investment in the Access Accounts through last year's "difficulties" to find that AC have just forced us to take a 10% withdrawal. No warning, no recompense. So much for loyalty...
|
|
jlend
Member of DD Central
Posts: 1,840
Likes: 1,465
|
Post by jlend on Jun 7, 2021 18:38:00 GMT
I'm annoyed! It comes as a rude shock for those who maintained their investment in the Access Accounts through last year's "difficulties" to find that AC have just forced us to take a 10% withdrawal. No warning, no recompense. So much for loyalty... While the access accounts were locked up AC did say they were looking at loyalty. Someone asked a question about it via the Ask the Panel in October. Am not sure if Ask the Panel has been scrapped as we haven't had one recently. "Have you ever considered rewarding loyalty giving long term investors or investors with greater amounts invested?" This was what AC said regarding rewarding loyalty. Am not sure what plans regarding loyalty were communicated after this. "We think rewarding the loyalty of existing investors is a fantastic idea and we’re currently looking into how we can best do that as it seems a very fair thing to do for the huge number of investors wanting to continue with our investments and grow them. We’ll communicate our plans with investors in the coming months, but we’ll also be reaching out to investors to get your thoughts and opinions - so keep an eye out for that."
|
|
|
|
Post by df on Jun 7, 2021 19:23:35 GMT
Wow, about 10% of my AA cash has come back out already. 64% in my case. I guess this is because most of it was on withdrawal requests. I would've canceled them should they give a warning  Big withdrawal for me, but I'm happy with their decision - wouldn't want to be invested in a failing product. I will probably reinvest it back to AA when the demand is back.
|
|
|
|
Post by brummiefred on Jun 7, 2021 20:26:27 GMT
So, approximately 10% of my IFISA 90day QAA has been 'withdrawn', but where is it, other than being part of the uninvested total, I seem to be unable to withdraw it to another IFISA platform!
|
|
corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
|
Post by corto on Jun 7, 2021 20:43:02 GMT
So, approximately 10% of my IFISA 90day QAA has been 'withdrawn', but where is it, other than being part of the uninvested total, I seem to be unable to withdraw it to another IFISA platform! What seems to be the problem? I am trying to move some funds out, too.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 7, 2021 20:46:03 GMT
You should be able to cancel the instructions they have made for you to re-invest the cash. Then you can extract it.
|
|
|
|
Post by brummiefred on Jun 7, 2021 20:56:18 GMT
|
|
corto
Member of DD Central
one-syllabistic
Posts: 851
Likes: 356
|
Post by corto on Jun 7, 2021 21:24:01 GMT
Thanks! I missed this new game.
cancelled and moved out without problems.
|
|
Big withdrawal for me, but I'm happy with their decision - wouldn't want to be invested in a failing product. I will probably reinvest it back to AA when the demand is back.
