iRobot
Member of DD Central
Posts: 1,680
Likes: 2,477
|
Post by iRobot on Aug 13, 2020 17:15:48 GMT
Without detail, I feel I need to defend some of the sentiment here... 1) How is it that AC are not able to impose a lender fee without lenders throwing their toys, yet they CAN slash target rates and we’re fine with that? 2) How is it that AC can distribute redemptions steadily over time, then pretty much stop for 2 weeks (so far) and we’re fine with that?If the answer to the above is that the SM is an AC get out of jail card, then I for one am definitely NOT fine with that, unless I can fully understand the direct answers to the questions I have posed (ie where the ‘missing’ funds are going). Didn't we cover this earlier, or did I dream it.  A payment was made yesterday which equated to £82.25 per £10k held. That's 40% greater than the average 10 day aggregated repayment on the current system.
|
|
cb25
Posts: 3,528 
Likes: 2,668
|
Post by cb25 on Aug 13, 2020 17:21:06 GMT
Loan #985 (£7.6M) hasn't been distributed yet and there may be others awaiting distribution.
How did you calculate the 0.8%?
As I said my numbers are not wholly accurate approx £150m of retail investors Money is in the access accounts. £15m redeemed is 10% - we have been redeemed approx 0.8% of the that figure £82 per £10,000 invested - someone like puddleduck will be able to give accurate numbers. Ignoring loan #945 (£7.6m) as it hasn't been distributed yet, I make the total amounts £8.415M. There's currently £217M in the AAs (£79M 90DAA, £72M 30DAA and £66M QAA). Before the £8.4M of repayments total AA holdings were therefore slightly over £225M, meaning 3.73% of AA money was repaid rather than 10%.
|
|
alender
Member of DD Central
Posts: 985
Likes: 687
|
Post by alender on Aug 13, 2020 17:26:03 GMT
Without detail, I feel I need to defend some of the sentiment here... 1) How is it that AC are not able to impose a lender fee without lenders throwing their toys, yet they CAN slash target rates and we’re fine with that? 2) How is it that AC can distribute redemptions steadily over time, then pretty much stop for 2 weeks (so far) and we’re fine with that? If the answer to the above is that the SM is an AC get out of jail card, then I for one am definitely NOT fine with that, unless I can fully understand the direct answers to the questions I have posed (ie where the ‘missing’ funds are going). A lot of us are not fine including the creation of the SM which is reducing our repayments however there is not much we can do except either take a haircut on the SM, legal action or complain and then take these complaints to the FOM and/or FCA, this will take a time to resolve but what else can we do.
I am also concerned that one of the reasons we are getting very little of the funds from loan redemptions and the cash in the AAs is increasing is AC are getting ready to start making new loans.
|
|
ian
Posts: 342
Likes: 226
|
Post by ian on Aug 13, 2020 17:30:46 GMT
As I said my numbers are not wholly accurate approx £150m of retail investors Money is in the access accounts. £15m redeemed is 10% - we have been redeemed approx 0.8% of the that figure £82 per £10,000 invested - someone like puddleduck will be able to give accurate numbers. Ignoring loan #945 (£7.6m) as it hasn't been distributed yet, I make the total amounts £8.415M. There's currently £217M in the AAs (£79M 90DAA, £72M 30DAA and £66M QAA). Before the £8.4M of repayments total AA holdings were therefore slightly over £225M, meaning 3.73% of AA money was repaid rather than 10%.
I question the amounts you state in the access accounts (not saying your wrong) they seem the identical number to the headline narrative on the platform and the numbers haven’t changed for months and include institutional investment - maybe someone might clarify. You could be correct
|
|
ian
Posts: 342
Likes: 226
|
Post by ian on Aug 13, 2020 17:36:02 GMT
Without detail, I feel I need to defend some of the sentiment here... 1) How is it that AC are not able to impose a lender fee without lenders throwing their toys, yet they CAN slash target rates and we’re fine with that? 2) How is it that AC can distribute redemptions steadily over time, then pretty much stop for 2 weeks (so far) and we’re fine with that?If the answer to the above is that the SM is an AC get out of jail card, then I for one am definitely NOT fine with that, unless I can fully understand the direct answers to the questions I have posed (ie where the ‘missing’ funds are going). Didn't we cover this earlier, I did I dream it. A payment was made yesterday which equated to £82.25 per £10k held. That's 40% greater than the average 10 day aggregated repayment on the current system. . What has the “ average 10 day aggregated repayment” got to do anything - the amount repaid is or should be proportional to the amount redeemed. If nothing is redeemed in the period zero would be repaid; if 10% is redeemed one would expect somewhere between 7&10%?? of investors funds to be redeemed
|
|
|
|
Post by essexboy on Aug 13, 2020 17:37:20 GMT
Without detail, I feel I need to defend some of the sentiment here... 1) How is it that AC are not able to impose a lender fee without lenders throwing their toys, yet they CAN slash target rates and we’re fine with that? 2) How is it that AC can distribute redemptions steadily over time, then pretty much stop for 2 weeks (so far) and we’re fine with that?If the answer to the above is that the SM is an AC get out of jail card, then I for one am definitely NOT fine with that, unless I can fully understand the direct answers to the questions I have posed (ie where the ‘missing’ funds are going). Didn't we cover this earlier, I did I dream it. A payment was made yesterday which equated to £82.25 per £10k held. That's 40% greater than the average 10 day aggregated repayment on the current system. Hmmmm I don’t see how the 10d repayment M/A is a relevant benchmark. You need to compare what distributions you receive with what distributions are due. Simple as. If the point is that AC have full discretion on all distributions and they are allowed to therefore pay us nothing again ever, then its probably quite a concern to raise I imagine (unless one is an AC shareholder).
|
|
cb25
Posts: 3,528
Likes: 2,668
|
Post by cb25 on Aug 13, 2020 17:44:09 GMT
Ignoring loan #945 (£7.6m) as it hasn't been distributed yet, I make the total amounts £8.415M. There's currently £217M in the AAs (£79M 90DAA, £72M 30DAA and £66M QAA). Before the £8.4M of repayments total AA holdings were therefore slightly over £225M, meaning 3.73% of AA money was repaid rather than 10%.
I question the amounts you state in the access accounts (not saying your wrong) they seem the identical number to the headline narrative on the platform and the numbers haven’t changed for months and include institutional investment - maybe someone might clarify. You could be correct Both are fair points.
However, even if we use your figure of £150M now in the AAs, it wouldn't be 10% because loan #945 is yet to be distributed, so it would be £8.4Mx100%/(£150M+£8.4M), i.e. 5.3%
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,057
Likes: 617
|
Post by dave4 on Aug 13, 2020 17:49:42 GMT
Without detail, I feel I need to defend some of the sentiment here... 1) How is it that AC are not able to impose a lender fee without lenders throwing their toys, yet they CAN slash target rates and we’re fine with that? 2) How is it that AC can distribute redemptions steadily over time, then pretty much stop for 2 weeks (so far) and we’re fine with that? If the answer to the above is that the SM is an AC get out of jail card, then I for one am definitely NOT fine with that, unless I can fully understand the direct answers to the questions I have posed (ie where the ‘missing’ funds are going). A lot of us are not fine including the creation of the SM which is reducing our repayments however there is not much we can do except either take a haircut on the SM, legal action or complain and then take these complaints to the FOM and/or FCA, this will take a time to resolve but what else can we do.
I am also concerned that one of the reasons we are getting very little of the funds from loan redemptions and the cash in the AAs is increasing is AC are getting ready to start making new loans.
I do believe that AC starting new loans is a good thing!, unless i'm missing something??. Repayments of loans is good, but without fresh loans the cupboard will soon be empty.
|
|
alender
Member of DD Central
Posts: 985
Likes: 687
|
Post by alender on Aug 13, 2020 18:15:02 GMT
A lot of us are not fine including the creation of the SM which is reducing our repayments however there is not much we can do except either take a haircut on the SM, legal action or complain and then take these complaints to the FOM and/or FCA, this will take a time to resolve but what else can we do.
I am also concerned that one of the reasons we are getting very little of the funds from loan redemptions and the cash in the AAs is increasing is AC are getting ready to start making new loans.
I do believe that AC starting new loans is a good thing!, unless i'm missing something??. Repayments of loans is good, but without fresh loans the cupboard will soon be empty. As you say there is a good case for starting new lending as all the good loans repay leaving only the non performing loans but with the SM now effectively stopping new money entering the AAs the only money available for these new loans would be money otherwise available for withdrawals. This and the SM changes the nature of the AAs into something AKA PIBs with far less security and no guaranteed interest.
|
|
agent69
Member of DD Central
Posts: 6,051
Likes: 4,440
|
Post by agent69 on Aug 13, 2020 18:21:18 GMT
A lot of us are not fine including the creation of the SM which is reducing our repayments however there is not much we can do except either take a haircut on the SM, legal action or complain and then take these complaints to the FOM and/or FCA, this will take a time to resolve but what else can we do.
I am also concerned that one of the reasons we are getting very little of the funds from loan redemptions and the cash in the AAs is increasing is AC are getting ready to start making new loans.
I do believe that AC starting new loans is a good thing!, unless i'm missing something??. Repayments of loans is good, but without fresh loans the cupboard will soon be empty. I'd rather have an empty cupboard than one that's full of dross.
|
|
ian
Posts: 342
Likes: 226
|
Post by ian on Aug 13, 2020 18:22:47 GMT
A lot of us are not fine including the creation of the SM which is reducing our repayments however there is not much we can do except either take a haircut on the SM, legal action or complain and then take these complaints to the FOM and/or FCA, this will take a time to resolve but what else can we do.
I am also concerned that one of the reasons we are getting very little of the funds from loan redemptions and the cash in the AAs is increasing is AC are getting ready to start making new loans.
I do believe that AC starting new loans is a good thing!, unless i'm missing something??. Repayments of loans is good, but without fresh loans the cupboard will soon be empty. New loans would be good thing however existing investors should have the option to opt out or in. As I stated on another thread rates should be increased to incentivise new investors / investment; instead AC are just intent on trapping investors in investments they no longer wish to partake in.
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Aug 13, 2020 18:38:04 GMT
I question the amounts you state in the access accounts (not saying your wrong) they seem the identical number to the headline narrative on the platform and the numbers haven’t changed for months and include institutional investment - maybe someone might clarify. You could be correct Both are fair points.
However, even if we use your figure of £150M now in the AAs, it wouldn't be 10% because loan #945 is yet to be distributed, so it would be £8.4Mx100%/(£150M+£8.4M), i.e. 5.3%
you don't need to know the totals, you can calculate them. the ratio of how much you have in any given loan to your total AA exposure will tell you what% of the total that loan represents (as everyone holds the same % of each loan) - then multiply up to 100% to get the current total amount lent via the AAs.
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,057
Likes: 617
|
Post by dave4 on Aug 13, 2020 19:52:45 GMT
I do believe that AC starting new loans is a good thing!, unless i'm missing something??. Repayments of loans is good, but without fresh loans the cupboard will soon be empty. I'd rather have an empty cupboard than one that's full of dross. Well don't invest then if that's how you see it. it is a choice now. Kinda think this may be off topic a bit.... sorry to all.
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Aug 13, 2020 20:31:08 GMT
As I said my numbers are not wholly accurate approx £150m of retail investors Money is in the access accounts. £15m redeemed is 10% - we have been redeemed approx 0.8% of the that figure £82 per £10,000 invested - someone like puddleduck will be able to give accurate numbers. Ignoring loan #945 (£7.6m) as it hasn't been distributed yet, I make the total amounts £8.415M. There's currently £217M in the AAs (£79M 90DAA, £72M 30DAA and £66M QAA). Before the £8.4M of repayments total AA holdings were therefore slightly over £225M, meaning 3.73% of AA money was repaid rather than 10%.
My calculation using data from loan #237 would be that there is currently ~£220,928,220 lent out in the AAs.
|
|
agent69
Member of DD Central
Posts: 6,051
Likes: 4,440
|
Post by agent69 on Aug 13, 2020 20:37:19 GMT
I'd rather have an empty cupboard than one that's full of dross. if that's how you see it. it is a choice now. Kinda think this may be off topic a bit.... sorry to all. Many thanks, but I don't need your investment advice.
|
|
