benaj
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Post by benaj on Apr 2, 2020 9:21:52 GMT
victors , I have "queued" withdrawal in my 30 DAA, requested a month ago, the money was supposed to be returned yesterday under "normal market conditions". ££££ "investment" in my 30DAA account atm. Just to be clear, the "queued" withdrawal is still in the queue. Interesting, I believe I saw somewhere that it made no difference how much or the number of entries you have in the queue you get the same amount so you are saying that if you have a QAA withdraw in the Queue when your 30d money hits the withdraw Queue you will get twice as much. I have withdrawal queues in my QAA, 30DAA & 90DAA. The 90 DAA queue is not due yet. This morning I received 2x£3.XX from QAA and 30DAA.
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alender
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Post by alender on Apr 2, 2020 10:39:32 GMT
Interesting, I believe I saw somewhere that it made no difference how much or the number of entries you have in the queue you get the same amount so you are saying that if you have a QAA withdraw in the Queue when your 30d money hits the withdraw Queue you will get twice as much. In my standard account, I have 2 90DAA withdrawals past their withdrawal dates, 20 in the 30DAA (from 13 Mar, as I kept the 30DAA on a rolling withdrawal cycle) and 2 in the QAA. Gave me 1x£234 recently in each account, not 2,20,2 lots of £234 resp. Thanks for the info, are you saying you have two separate accounts with AC (2 logins), it which case it bears out what I have seen. At present I have only a 30d requested 6th Feb in withdrawal queue/pool and more on the way so I planing the cancel these until as it will take some time to clear my current request and will drop interest rate on the other funds.
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cb25
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Post by cb25 on Apr 2, 2020 10:58:21 GMT
In my standard account, I have 2 90DAA withdrawals past their withdrawal dates, 20 in the 30DAA (from 13 Mar, as I kept the 30DAA on a rolling withdrawal cycle) and 2 in the QAA. Gave me 1x£234 recently in each account, not 2,20,2 lots of £234 resp. Thanks for the info, are you saying you have two separate accounts with AC (2 logins), it which case it bears out what I have seen. At present I have only a 30d requested 6th Feb in withdrawal queue/pool and more on the way so I planing the cancel these until as it will take some time to clear my current request and will drop interest rate on the other funds.
I have one account, using one login, but have a 'standard' (non-IFISA account) and an IFISA account.
IFISA account
-essentially dumped £20K into it last April at the start of the 2019/20 tax year -put it all in the 90DAA for simplicity, would do any MLA investments in my standard account -Dec 2019, decided I'd move at least the interest earned so far to another account, put in withdrawal request, due out 12 Mar 2020 (coincidence!) -hence when AC 'paused' access accounts withdrawal requests around 12/13 Mar I had money there past its withdrawal date
Standard account -had money in 90DAA, 30DAA, QAA, MLA -90DAA little while back put in 2 withdrawal requests (due out 21 Mar and 28 Mar), to do some rebalancing -30DAA had always kept this on a 'rolling withdrawal' cycle, with roughly 1/30th money coming due every day to be used/put back into 30DAA (hence have money owed from 13 Mar, 14 Mar, 15 Mar....) -QAA used it as an interest-paying cash account. In the past, only ever put in a 'withdrawal request' when I needed the money, e.g. to put in MLA, expected instant response. When AC 'paused' access account withdrawals, I put in 2 withdrawal requests - one 14 Mar, other 18 Mar - for some of my funds.
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benaj
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Post by benaj on Apr 3, 2020 15:04:30 GMT
Another y x £ today.
££ withdrawn
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Post by Harland Kearney on Apr 4, 2020 11:58:10 GMT
I've noticed the recent small payouts (that I'm assuming is from new deposits) has come to avg between £3-£3.60 rather than £1 over the past weeks (yet the same frequency, once-three times a day). A sign the queue is getting smaller. (albiet by a little reguardless?) I find it hard to believe despoits have gotten bigger as of recent, at the best they will have stayed the same as before the introduction of the fee.
Interesting non the less.
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mark
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Post by mark on Apr 4, 2020 15:21:51 GMT
I've noticed the recent small payouts (that I'm assuming is from new deposits) has come to avg between £3-£3.60 rather than £1 over the past weeks (yet the same frequency, once-three times a day). A sign the queue is getting smaller. (albiet by a little reguardless?) I find it hard to believe despoits have gotten bigger as of recent, at the best they will have stayed the same as before the introduction of the fee. Interesting non the less. As far as increased liquidity, one interest on the horizon will be IFISA investment funds from Monday 6th April. With £100 million + invested in AC IFISA it will be interesting to see what happens.
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alanh
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Post by alanh on Apr 4, 2020 15:52:33 GMT
I've noticed the recent small payouts (that I'm assuming is from new deposits) has come to avg between £3-£3.60 rather than £1 over the past weeks (yet the same frequency, once-three times a day). A sign the queue is getting smaller. (albiet by a little reguardless?) I find it hard to believe despoits have gotten bigger as of recent, at the best they will have stayed the same as before the introduction of the fee. Interesting non the less. As far as increased liquidity, one interest on the horizon will be IFISA investment funds from Monday 6th April. With £100 million + invested in AC IFISA it will be interesting to see what happens. Don't hold your breath. "Invest your IFISA cash and see it instantly locked up for an unknown amount of time" is probably not what most investors are looking for. Maybe a few quid will make it into the MLA and see some of the loans with bigger discounts picked off.
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Post by Harland Kearney on Apr 4, 2020 16:01:04 GMT
As far as increased liquidity, one interest on the horizon will be IFISA investment funds from Monday 6th April. With £100 million + invested in AC IFISA it will be interesting to see what happens. Don't hold your breath. "Invest your IFISA cash and see it instantly locked up for an unknown amount of time" is probably not what most investors are looking for. Maybe a few quid will make it into the MLA and see some of the loans with bigger discounts picked off. That is why it will only attract investors not looking to remove that investment anytime soon. I mean state the obvious why don't you.
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alanh
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Post by alanh on Apr 4, 2020 16:06:53 GMT
Don't hold your breath. "Invest your IFISA cash and see it instantly locked up for an unknown amount of time" is probably not what most investors are looking for. Maybe a few quid will make it into the MLA and see some of the loans with bigger discounts picked off. That is why it will only attract investors not looking to remove that investment anytime soon. I mean state the obvious why don't you. Or possibly ever get it back at all. I don't think anyone would consider the access accounts to be a credible investment proposition at the moment. If they do they can have all mine at a 30% discount.
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Post by Harland Kearney on Apr 4, 2020 16:07:53 GMT
That is why it will only attract investors not looking to remove that investment anytime soon. I mean state the obvious why don't you. Or possibly ever get it back at all. I don't think anyone would consider the access accounts to be a credible investment proposition at the moment. If they do they can have all mine at a 30% discount.
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upperdeane
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Post by upperdeane on Apr 4, 2020 17:04:00 GMT
That is why it will only attract investors not looking to remove that investment anytime soon. I mean state the obvious why don't you. Or possibly ever get it back at all. I don't think anyone would consider the access accounts to be a credible investment proposition at the moment. If they do they can have all mine at a 30% discount. Interesting proposition, but i'm not sure that is possible to do that in practice (transfer your holdings to somebody else). If it is possible, let me know.
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alanh
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Post by alanh on Apr 4, 2020 17:46:43 GMT
Or possibly ever get it back at all. I don't think anyone would consider the access accounts to be a credible investment proposition at the moment. If they do they can have all mine at a 30% discount. Interesting proposition, but i'm not sure that is possible to do that in practice (transfer your holdings to somebody else). If it is possible, let me know. No it is not possible. Stuart from Assetz was on here a day or two ago talking about new functionality which will include many of the suggestions on this forum. He didn't say what, but hopefully a secondary market in the access accounts will be one of them.
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rogedavi
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Post by rogedavi on Apr 4, 2020 18:21:14 GMT
I dont think ISA money cares too much about liquidity (its money designated to be locked away for long term savings anyway). But having said that QAA @ 5.75% with the economic backdrop is going to take someone rather brave to take that bet on. Obviously at par, everyone is a seller given the uncertainty over the future. So if you are in, you are likely going to be staying in. The only way out is a secondary market which prices the basket of loans correctly.
Every asset, no matter how distressed has a price where it starts to look cheap. I'd certainly be interested to increase my investment at a 10% rate (thats probably equivalent to buying someone out at 80p on the £1). Reverse that argument, you'd probably get an awful lot of people take themselves out of the queue if there was a clearing price that was actually reflective of the (perceived) underlying portfolio value. All the sellers at par, would think twice if the clearing price meant a 20-25% crystallised loss. Until there is a secondary market, we dont even know what sort of haircut we are looking at.
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alanh
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Post by alanh on Apr 4, 2020 19:28:09 GMT
I dont think ISA money cares too much about liquidity (its money designated to be locked away for long term savings anyway). But having said that QAA @ 5.75% with the economic backdrop is going to take someone rather brave to take that bet on. Obviously at par, everyone is a seller given the uncertainty over the future. So if you are in, you are likely going to be staying in. The only way out is a secondary market which prices the basket of loans correctly. Every asset, no matter how distressed has a price where it starts to look cheap. I'd certainly be interested to increase my investment at a 10% rate (thats probably equivalent to buying someone out at 80p on the £1). Reverse that argument, you'd probably get an awful lot of people take themselves out of the queue if there was a clearing price that was actually reflective of the (perceived) underlying portfolio value. All the sellers at par, would think twice if the clearing price meant a 20-25% crystallised loss. Until there is a secondary market, we dont even know what sort of haircut we are looking at. Totally agree on the secondary market. Some ISA money cares about liquidity but mostly its supposed to be a long term investment. But there is a huge difference between putting it into fixed rate bonds/shares or whatever that are supposed to be long term investments and putting into one the access accounts. The access accounts are only now long term because everyone is locked in, some investors for longer than others, for an unknown time period with all associated risks including the failure of the platform and considerable loss of capital. They are not long term investments, they are failed accounts now subject to a flood of redemptions that can't be satisfied - ergo, they have become long term.
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Post by Harland Kearney on Apr 4, 2020 20:06:47 GMT
I dont think ISA money cares too much about liquidity (its money designated to be locked away for long term savings anyway). But having said that QAA @ 5.75% with the economic backdrop is going to take someone rather brave to take that bet on. Obviously at par, everyone is a seller given the uncertainty over the future. So if you are in, you are likely going to be staying in. The only way out is a secondary market which prices the basket of loans correctly. Every asset, no matter how distressed has a price where it starts to look cheap. I'd certainly be interested to increase my investment at a 10% rate (thats probably equivalent to buying someone out at 80p on the £1). Reverse that argument, you'd probably get an awful lot of people take themselves out of the queue if there was a clearing price that was actually reflective of the (perceived) underlying portfolio value. All the sellers at par, would think twice if the clearing price meant a 20-25% crystallised loss. Until there is a secondary market, we dont even know what sort of haircut we are looking at. Totally agree on the secondary market. Some ISA money cares about liquidity but mostly its supposed to be a long term investment. But there is a huge difference between putting it into fixed rate bonds/shares or whatever that are supposed to be long term investments and putting into one the access accounts. The access accounts are only now long term because everyone is locked in, some investors for longer than others, for an unknown time period with all associated risks including the failure of the platform and considerable loss of capital. They are not long term investments, they are failed accounts now subject to a flood of redemptions that can't be satisfied - ergo, they have become long term. The underlying loans could be considered Medium and Long term. AC Access accounts have been a double edged sword in all of this (And I think another poster worded it better than me). In normal conditions they perform really well, infact in many cases better than the industry counter parts. But now things have gotten into a crisis for the global economy, they have become a achilies heel as such. The "access" is really not doing the accounts any favours, even though the under lying assets are all 1-5 years (Medium, to entry long term investments.) Without any valuation to what sellers would want to sell out its hard to guage. I don't think many people would sell at 25%, but how would I know, only the market can tell us. Clearly its under stress anyway ofc. But not all of AC loan book is pubs, and its pubs that have gotten that high into discounts so far (25%+). Or loans in stress before the crisis (which are well very very likely to default)
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