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Post by stuartassetzcapital on Jun 2, 2020 15:40:20 GMT
Why on earth was today's capital distribution change not communicated via email? Without this forum I would still be puzzling over why I'd suddenly started getting radically different amounts across access accounts.
The only feedback that we saw on the withdrawal allocation methodologies was on this forum - it was therefore not added to the latest Access Account email update sent to all and just included in that blog update that you tell us you monitor. That’s the simple reason as emails that are too long and complex don’t get read and it was long enough and contained the most important information for most people.
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Post by oppsididitagain on Jun 2, 2020 15:43:45 GMT
I have checked your figures against mine and they do appear in direct proportion to my holding (i.e. less than yours). So this is how it is going to be and I suppose larger AC holders will greet the development with some [qualified] cheer. However I think a 'deminimus' rule could have been used such that you will get a payment of (say) at least 50p each time there is a payout [just the old 'leftyness' in me speaking I suppose] Likewise. It could be said that the "de minimus" principle you are looking for is exactly what's been happening. After a couple of months with the flat rate distributions, anyone with a few hundred quid has got it all back. The impact of this on the "big hitters" has been miniscule, but has hopefully made a difference to some people. It may also have cleared out some small accounts completely, which is probably a good thing for both the platform and those investors. I have approx 10K in the QAA queue and received £2.00 I have approx 115K in the 30AA queue and received £24.68 I have approx 27K in my IFISA 30AA Queue and received £5.74 AND. at 16.12 as per the previous holding amounts I got £2.97, £35.80 and £8.50 in the IFISA.. so 2 payouts today I would be curious to know what the payout would have been like the old way. Just to compare.
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Balder
Member of DD Central
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Post by Balder on Jun 2, 2020 16:24:57 GMT
Why on earth was today's capital distribution change not communicated via email? Without this forum I would still be puzzling over why I'd suddenly started getting radically different amounts across access accounts.
The only feedback that we saw on the withdrawal allocation methodologies was on this forum - it was therefore not added to the latest Access Account email update sent to all and just included in that blog update that you tell us you monitor. That’s the simple reason as emails that are too long and complex don’t get read and it was long enough and contained the most important information for most people. You will be standing in for the Gov on the Covid 19 daily update next!
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dead-money
Rocket to the Moon
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Post by dead-money on Jun 2, 2020 16:27:44 GMT
So it's a tad under £5 per £10,000 invested in the access accounts for today, arising from partial redemptions on development loans.
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Post by gobuchul on Jun 2, 2020 16:50:38 GMT
Why on earth was today's capital distribution change not communicated via email? Without this forum I would still be puzzling over why I'd suddenly started getting radically different amounts across access accounts.
The only feedback that we saw on the withdrawal allocation methodologies was on this forum - it was therefore not added to the latest Access Account email update sent to all and just included in that blog update that you tell us you monitor. That’s the simple reason as emails that are too long and complex don’t get read and it was long enough and contained the most important information for most people. For me it is a very welcome change and gives me more confidence in AC. I understood the reasons given for the flat rate, but the complete unfairness of it meant that for me it should have been discounted as a solution. A hybrid part-flat, part pro-rata would have been better. In respect of the only feedback being on this forum, I find that hard to believe. I know for a fact people have made formal direct complaints about it and I raised it on Live Chat myself before finding this forum. I'll see how things progress but for me this is a big step forward.
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Post by foxglove on Jun 2, 2020 17:05:24 GMT
Why on earth was today's capital distribution change not communicated via email? Without this forum I would still be puzzling over why I'd suddenly started getting radically different amounts across access accounts.
The only feedback that we saw on the withdrawal allocation methodologies was on this forum - it was therefore not added to the latest Access Account email update sent to all and just included in that blog update that you tell us you monitor. That’s the simple reason as emails that are too long and complex don’t get read and it was long enough and contained the most important information for most people.
I was very alarmed to find very little credited to my accounts today, and I could only guess that the methodology had changed. I could not find anything on the Assetz Capital site, I had to come here. It seems I now go from receiving peanuts, to receiving crumbs. I am not happy about the change, nor about the lack of communication. Please consider this to be feedback from a small investor, one of the (usually) silent majority.
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Post by gobuchul on Jun 2, 2020 17:16:47 GMT
I’m sure this has got nothing to do with AC announcing it’s fourth round of equity funding, which would normally only be of interest to big hitters... Interestingly I have three AC accounts, one business account with a large amount and two with much smaller private amounts (but still both 5 figures). The largest account got a direct email about the equity funding and the two smaller accounts didn't. I wonder what the criteria is for getting a direct email about the equity funding.
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Post by angel19 on Jun 2, 2020 17:39:21 GMT
I am happy with the change. I accepted the rationale for the initial flat rate distributions as helping smaller investors, even though it was rather unfavourable to me. Now we are over two months in, it is good to move to a more equitable model based on amount invested.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jun 2, 2020 17:49:35 GMT
I am less happy - I had much more in the MLA, and had hoped to get the smaller amounts in the access accounts out in a reasonable time frame.
I am getting tiny fractions out now - 10-20 fold less than before - so will take more out of the MLA instead as the access account amounts will take (almost literally) forever at this rate.
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Post by gobuchul on Jun 2, 2020 18:01:02 GMT
I am less happy - I had much more in the MLA, and had hoped to get the smaller amounts in the access accounts out in a reasonable time frame. I am getting tiny fractions out now - 10-20 fold less than before - so will take more out of the MLA instead as the access account amounts will take (almost literally) forever at this rate. Well, in theory now it will take the same time for everyone (although a key detail is that the amount is pro-rata to your total holding and not pro-rata to your withdrawal request). Edit - in fact it will literally take forever for everyone as it is pro-rata to your holding. This means it is theoretically impossible to withdraw everything (unless I am missing something).
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jun 2, 2020 18:24:02 GMT
I am less happy - I had much more in the MLA, and had hoped to get the smaller amounts in the access accounts out in a reasonable time frame. I am getting tiny fractions out now - 10-20 fold less than before - so will take more out of the MLA instead as the access account amounts will take (almost literally) forever at this rate. Well, in theory now it will take the same time for everyone (although a key detail is that the amount is pro-rata to your total holding and not pro-rata to your withdrawal request). Edit - in fact it will literally take forever for everyone as it is pro-rata to your holding. This means it is theoretically impossible to withdraw everything ( unless I am missing something). The provision fund/ringfenced cash. If that ever steps in...
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Post by madmitch on Jun 2, 2020 22:07:21 GMT
Aaaaah.... The Law of Diminishing Returns.
otherwise known as...'Hotel California'.
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ceejay
Posts: 975
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Post by ceejay on Jun 3, 2020 8:35:44 GMT
I am less happy - I had much more in the MLA, and had hoped to get the smaller amounts in the access accounts out in a reasonable time frame. I am getting tiny fractions out now - 10-20 fold less than before - so will take more out of the MLA instead as the access account amounts will take (almost literally) forever at this rate. Well, in theory now it will take the same time for everyone (although a key detail is that the amount is pro-rata to your total holding and not pro-rata to your withdrawal request). Edit - in fact it will literally take forever for everyone as it is pro-rata to your holding. This means it is theoretically impossible to withdraw everything (unless I am missing something). Broadly, I see two ways this can go. Either conditions return to something sufficiently like normality for the AAs to resume working more or less as before (perhaps with a few rule tweaks) or they don't. If they do, question over. If they don't, and AC don't take any new loans into these accounts, then we continue the run-down process that we are in now. In the end, every loan can only go one of two ways - it pays back (money distributed) or is declared in default. When the last loan is abandoned as non-paying, the cash in the fund can be distributed and that's the end of it. (Note: not necessarily the end of AC, just these accounts). Of course, the tail end of this process might take a very long time - several years - but by the time we approached that point we would presumably only have a relatively small number of loans to deal with, and it might become practical for the AAs to be exploded into their constituent parts (as was mooted by AC a couple of months ago, though they've gone quiet on that).
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Post by giammy on Jun 3, 2020 8:37:02 GMT
Well, in theory now it will take the same time for everyone (although a key detail is that the amount is pro-rata to your total holding and not pro-rata to your withdrawal request). Edit - in fact it will literally take forever for everyone as it is pro-rata to your holding. This means it is theoretically impossible to withdraw everything (unless I am missing something). Broadly, I see two ways this can go. Either conditions return to something sufficiently like normality for the AAs to resume working more or less as before (perhaps with a few rule tweaks) or they don't. If they do, question over. If they don't, and AC don't take any new loans into these accounts, then we continue the run-down process that we are in now. In the end, every loan can only go one of two ways - it pays back (money distributed) or is declared in default. When the last loan is abandoned as non-paying, the cash in the fund can be distributed and that's the end of it. (Note: not necessarily the end of AC, just these accounts). Of course, the tail end of this process might take a very long time - several years - but by the time we approached that point we would presumably only have a relatively small number of loans to deal with, and it might become practical for the AAs to be exploded into their constituent parts (as was mooted by AC a couple of months ago, though they've gone quiet on that). Zeno's paradoxes!
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Post by valerieb on Jun 3, 2020 9:07:31 GMT
Zeno’s paradox with the arrow in flight immediately jumped into my mind too.....well, when I say immediately I probably mean showing no obvious sign of movement at any individual moment but somehow managing to reach the conscious part of my brain.
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