Mikeme
Member of DD Central
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Post by Mikeme on Mar 21, 2020 15:26:51 GMT
n addition to that AC are a good and easy vehicle to us to support particularly construction industry. They have the infrastructure in place.
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savernake
Member of DD Central
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Post by savernake on Mar 21, 2020 16:35:03 GMT
Reguardless, I'm coming to the conclusion that the que is ultimately for the benefit of the health of the platform, and directly all of our investments. If they allow outflows now (which is impossible in the current situation) would be equal to a bank run, many investors are sitting on their hands, even myself. I'm in the que but ultimately I care more for the health of the platform but don't wish to give up any dribs of capital coming my way. (to help pay for new investments in the stock market) I've not really lost confidence in AC, although I will admit I was "paniced" previously. Overall, our "investments" still exist and AC will continue to tick on until after the crisis in the world right now, returning liquidity eventually. Investments in the access accounts, will continue to repay, earn interest for investors (which some will choose to reinvest), and pipeline will send out new loans to new borrowers. I for one don't have too much of a issue, I just want clear comms from AC, and a regular updates on how loans being repaid will be used in part to pay back investors. My theory is the majority of repayments are ear marked for loans in the pipeline, something that is unavoidble. If AC don't produce new loans, confidence would be entirely lost. RS have curtailed Loan handouts, but lets renember their loans are arguably less secure than those find in the AC loanbook. Secondly, RS seem to be making those exiting happy, but they will never return. They are basically bleeding out slowly, as more and more investors are piling into the exit whilst they can. As long as AC are doing a good job, and are not making charity appeals  & simply moving forward. I am more than happy to not wave my arms around in panic... & stay invested. I wish I could share your new-found optimism, but I'm still in 'panic mode'. A large chunk of my life savings are in the QAA. In the current economic climate, I don't believe its realistic to expect the majority of borrowers to continue to repay. If these businesses have no money coming in (particularly the house builders) then how are they going to be able to service their loans? The government aid package is going to help pay their employees wages, but this money can't and won't be used for debt repayment. As you're now so confident in AC, I hope you've cancelled your withdrawal request so the rest of us can get our money back more quickly?
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Post by Harland Kearney on Mar 21, 2020 16:39:43 GMT
Reguardless, I'm coming to the conclusion that the que is ultimately for the benefit of the health of the platform, and directly all of our investments. If they allow outflows now (which is impossible in the current situation) would be equal to a bank run, many investors are sitting on their hands, even myself. I'm in the que but ultimately I care more for the health of the platform but don't wish to give up any dribs of capital coming my way. (to help pay for new investments in the stock market) I've not really lost confidence in AC, although I will admit I was "paniced" previously. Overall, our "investments" still exist and AC will continue to tick on until after the crisis in the world right now, returning liquidity eventually. Investments in the access accounts, will continue to repay, earn interest for investors (which some will choose to reinvest), and pipeline will send out new loans to new borrowers. I for one don't have too much of a issue, I just want clear comms from AC, and a regular updates on how loans being repaid will be used in part to pay back investors. My theory is the majority of repayments are ear marked for loans in the pipeline, something that is unavoidble. If AC don't produce new loans, confidence would be entirely lost. RS have curtailed Loan handouts, but lets renember their loans are arguably less secure than those find in the AC loanbook. Secondly, RS seem to be making those exiting happy, but they will never return. They are basically bleeding out slowly, as more and more investors are piling into the exit whilst they can. As long as AC are doing a good job, and are not making charity appeals & simply moving forward. I am more than happy to not wave my arms around in panic... & stay invested. I wish I could share your new-found optimism, but I'm still in 'panic mode'. A large chunk of my life savings are in the QAA. In the current economic climate, I don't believe its realistic to expect the majority of borrowers to continue to repay. If these businesses have no money coming in (particularly the house builders) then how are they going to be able to service their loans? The government aid package is going to help pay their employees wages, but this money can't and won't be used for debt repayment. As you're now so confident in AC, I hope you've cancelled your withdrawal request so the rest of us can get our money back more quickly? Not confidence, but panicing won't do anything for investors now. Unfontunely that train is long gone. If you are a larger investor you are unlikely to recieve much of those investments in cash. There isn't anything I or you can do, but wasting time panicing here isnt' doing much. From the threads I've been reading. The only way AC will push though is if new loans continue to draw down, and AC continue to recieve incoming investments. The latter wont' be in large amounts until crisis subsides. Also if you read my actual post, your last question is answered, you come off as pretty brash honestly, but Okay. I am fully aware of the default rate that will increase, but your locked in, just like me.
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Mikeme
Member of DD Central
Posts: 428
Likes: 331
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Post by Mikeme on Mar 21, 2020 17:06:18 GMT
I wish I could share your new-found optimism, but I'm still in 'panic mode'. A large chunk of my life savings are in the QAA. In the current economic climate, I don't believe its realistic to expect the majority of borrowers to continue to repay. If these businesses have no money coming in (particularly the house builders) then how are they going to be able to service their loans? The government aid package is going to help pay their employees wages, but this money can't and won't be used for debt repayment. As you're now so confident in AC, I hope you've cancelled your withdrawal request so the rest of us can get our money back more quickly? Not confidence, but panicing won't do anything for investors now. Unfontunely that train is long gone. If you are a larger investor you are unlikely to recieve much of those investments in cash. There isn't anything I or you can do, but wasting time panicing here isnt' doing much. From the threads I've been reading. The only way AC will push though is if new loans continue to draw down, and AC continue to recieve incoming investments. The latter wont' be in large amounts until crisis subsides. Also if you read my actual post, your last question is answered, you come off as pretty brash honestly, but Okay. I am fully aware of the default rate that will increase, but your locked in, just like me. Thats me too.
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oik
Member of DD Central
Posts: 254
Likes: 349
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Post by oik on Mar 23, 2020 15:11:59 GMT
reportedly those who were trying to withdraw a sufficiently large amount got allocated a bit over £40 each yesterday, so the net effect of that if "everyone" was withdrawing would have been a noticeable reduction in the totals, rather than an increase.
If so, I'm puzzled. According to the update www.assetzcapital.co.uk/blog/access-accounts-update
"All existing QAA, 30 Day Access Account and 90 Day Access Account withdrawal requests are still queued in the order they were requested, and their position will be honoured." If everyone got £40 on the same day then what sort of queue is that? Did they really all make their withdrawal request at the same second, on the same day? Or are payments being made using some other criteria - regardless of the actual order in which requests were made?
I think Assetz need to clearly explain precisely how their strange "queue" system works. Unless they do, and quickly, there will be a permanent and unrecoverable loss of confidence in their business.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Mar 23, 2020 15:25:29 GMT
Given the way they have gone about this I would think there has already been a permanent and unrecoverable lack of confidence in their business.
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Post by Ace on Mar 23, 2020 16:15:46 GMT
reportedly those who were trying to withdraw a sufficiently large amount got allocated a bit over £40 each yesterday, so the net effect of that if "everyone" was withdrawing would have been a noticeable reduction in the totals, rather than an increase.
If so, I'm puzzled. According to the update www.assetzcapital.co.uk/blog/access-accounts-update
"All existing QAA, 30 Day Access Account and 90 Day Access Account withdrawal requests are still queued in the order they were requested, and their position will be honoured." If everyone got £40 on the same day then what sort of queue is that? Did they really all make their withdrawal request at the same second, on the same day? Or are payments being made using some other criteria - regardless of the actual order in which requests were made?
I think Assetz need to clearly explain precisely how their strange "queue" system works. Unless they do, and quickly, there will be a permanent and unrecoverable loss of confidence in their business.
You don't get payments while waiting for your 30 or 90 day notice period to expire. When they do expire, and whenever you attempt to withdraw from the QAA, you enter the withdrawal pool. All those in the withdrawal pool receive equal shares of any available cash. Each withdrawal request maintains its date and time of entry into the withdrawal pool in case they decide to revert back to a proper queueing system (which seems unlikely IMO). EDIT: The sentence that you quoted referred to the queueing during the 30 or 90 day notice period, not queueing within the withdrawal pool.
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& simply moving forward. I am more than happy to not wave my arms around in panic... & stay invested.
