blender
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Post by blender on Aug 14, 2020 7:52:38 GMT
Now that the Secondary Market for the Access Accounts is here and working, I thought it would be appropriate to create a thread which shows appreciation to AC for its provision. The circumstances which immediately led to the liquidity crisis were not made by AC and were not predictable. While some other platforms did nothing practical to support retail lenders, and others (no names) took the opportunity to throw retail lenders under a bus, AC stands out as having engaged with retail lenders through the liquidity crisis and having proposed and provided means of mitigation. The creation of the SM has taken a good deal of resource at an extraordinarily difficult time - with some bad temper among lenders. Though I have not yet traded, just the existence of the SM is of great value to me because I know that if I need larger sums in an emergency then I can exit at a discount - and another lender will benefit. The existence of the SM does not make every lender happy, and the way it works will not suit everybody. However, looking at the bigger picture, if you appreciate what AC - Stuart, Chris, the team - have done in providing the SM for retail lenders, and of course for the future of the platform (including retail lenders), then you are welcome to add to this thread. If not, then please feel free to create another thread.
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maotw
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Post by maotw on Aug 14, 2020 8:07:43 GMT
My appreciation is on hold until it becomes clear as to whether the SM is being used to cease distributions at the level and manner that were in operation up to the 3rd.
Fag packet calcs suggest £300/£10K might have been in prospect. Perhaps tranche needs have step-changed upwards.
So it’s watch and wait for me; unless AC are minded to reveal what they intend.
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r00lish67
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Post by r00lish67 on Aug 14, 2020 8:08:50 GMT
Hear hear!
As well as it achieving a good way to allow concerned lenders to exit, I think it's also testament to Assetz' willingness to invest money into a platform improvement for the long term. I assume it required a large chunk of Dev/Test time and money, so it's impressive they invested that at what has been a very economically testing time.
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ian
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Post by ian on Aug 14, 2020 8:21:06 GMT
😂😂😂 AC market their Access accounts as hybred “fixed interest term account” and then change the investment into a complex tradable product which is now beyond the understanding most of investors, given the unknown state of the loans. This fundamental change is made without the option to opt out. The net result being existing investors are unlikely to have access to new funds unless they are happy to discount their original investment.
Remind me about the 2008 crisis - banks trading syndicated loans, many of which were in or on the verge of default.
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Post by brummiefred on Aug 14, 2020 8:29:48 GMT
😂😂😂 AC market their Access accounts as hybred “fixed interest term account” and then change the investment into a complex tradable product which is now beyond the understanding most of investors, given the unknown state of the loans. This fundamental change is made without the option to opt out. The net result being existing investors are unlikely to have access to new funds unless they are happy to discount their original investment. Remind me about the 2008 crisis - banks trading syndicated loans, many of which were in or on the verge of default. So ian tell us what YOU would have done in the circumstances
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Post by chris on Aug 14, 2020 8:29:59 GMT
maotw - there's been no change to that distribution algorithm with the launch of the marketplace
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blender
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Post by blender on Aug 14, 2020 8:34:53 GMT
😂😂😂 AC market their Access accounts as hybred “fixed interest term account” and then change the investment into a complex tradable product which is now beyond the understanding most of investors, given the unknown state of the loans. This fundamental change is made without the option to opt out. The net result being existing investors are unlikely to have access to new funds unless they are happy to discount their original investment. Remind me about the 2008 crisis - banks trading syndicated loans, many of which were in or on the verge of default. So ian tell us what YOU would have done in the circumstances Sure - but somewhere else, please.
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maotw
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Post by maotw on Aug 14, 2020 8:34:57 GMT
maotw - there's been no change to that distribution algorithm with the launch of the marketplace Chris, Many thanks for the clarification. In the daze that is my befuddled mind, such an unambiguous statement is a joy! Cheers!
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Mikeme
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Post by Mikeme on Aug 14, 2020 8:36:15 GMT
😂😂😂 AC market their Access accounts as hybred “fixed interest term account” and then change the investment into a complex tradable product which is now beyond the understanding most of investors, given the unknown state of the loans. This fundamental change is made without the option to opt out. The net result being existing investors are unlikely to have access to new funds unless they are happy to discount their original investment. Remind me about the 2008 crisis - banks trading syndicated loans, many of which were in or on the verge of default. You were invited to start another thread for negative comments!
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iRobot
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Post by iRobot on Aug 14, 2020 8:40:32 GMT
😂😂😂 AC market their Access accounts as hybred “fixed interest term account” and then change the investment into a complex tradable product which is now beyond the understanding most of investors, given the unknown state of the loans. This fundamental change is made without the option to opt out. The net result being existing investors are unlikely to have access to new funds unless they are happy to discount their original investment. Remind me about the 2008 crisis - banks trading syndicated loans, many of which were in or on the verge of default. You were invited to start another thread for negative comments! When even the simplest of instructions is 'beyond the understanding' of some folk, it does make you wonder ...
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iRobot
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Post by iRobot on Aug 14, 2020 8:44:12 GMT
However, looking at the bigger picture, if you appreciate what AC - Stuart, Chris, the team - have done in providing the SM for retail lenders, and of course for the future of the platform (including retail lenders), then you are welcome to add to this thread. Just wanted to add some acknowledgement for the efforts of SteveT & ilmoro who guided fellow forumites with various hints, tips and answers to queries throughout launch-day and, no doubt, beyond. Nicely done, gents.
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maotw
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Post by maotw on Aug 14, 2020 8:44:24 GMT
You were invited to start another thread for negative comments! When even the simplest of instructions is 'beyond the understanding' of some folk, it does make you wonder ... ... wonder if the instructed accept the authority of the instructor :-))
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Aug 14, 2020 8:49:08 GMT
Thank you to all at assets for their hard work with the SM ect. Im sure its not to everyone's liking, but it provides a exit route if required.
Now efforts can be focused more on the loan book, both current (including the struggling loans), and future loans...
Hopefully we(lenders) /AC can now move back on to making ££ together ect....
looking forward to the years ahead..
With a stronger better future together.
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jcb208
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Post by jcb208 on Aug 14, 2020 8:52:31 GMT
My appreciation is zero, should never of happened
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upperdeane
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Post by upperdeane on Aug 14, 2020 9:00:13 GMT
maotw - there's been no change to that distribution algorithm with the launch of the marketplace Hi chris Do you know when distributions will start up again. I haven't seen any in my account yesterday or so far today and i have loan holding in QAA for sale. I assume I should be getting distributions even though i have cancelled my 0% discount order yesterday and replaced it yesterday with a marketplace discount attached to the sell order instead.
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