ashtondav
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Post by ashtondav on Feb 15, 2021 18:21:44 GMT
I kinda think £100 to sell £10,000 shows more demand than supply. But yes, you would be £100 better off on a £10,000 sale with no discount.
Pays for a meal out i guess...
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Post by Companion Cube on Feb 15, 2021 18:31:21 GMT
I kinda think £100 to sell £10,000 shows more demand than supply. But yes, you would be £100 better off on a £10,000 sale with no discount.
Pays for a meal out i guess...
Did you mean £10 to sell £10,000 [at 0.1%]?
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SteveT
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Post by SteveT on Feb 15, 2021 18:31:34 GMT
I kinda think £100 to sell £10,000 shows more demand than supply. But yes, you would be £100 better off on a £10,000 sale with no discount.
Pays for a meal out i guess...
Don’t you mean £10?
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ceejay
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Post by ceejay on Feb 15, 2021 18:33:31 GMT
I kinda think £100 to sell £10,000 shows more demand than supply. But yes, you would be £100 better off on a £10,000 sale with no discount.
Pays for a meal out i guess...
Don’t you mean £10? Well, since the only kind of meal out you can have now is a MacDonalds, maybe £10 is all you need...
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sl75
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Post by sl75 on Feb 15, 2021 19:28:44 GMT
As one can sell for a 0.1% discount (usually) I can't see it as a screaming priority. Such a low discount shows there many more wanting to put more "in" than pull more "out".
If many more were wanting to put money in ... normal market conditions would be in play and there would be no discounts. I think you're both right, and that @ashdondav is referring to the balance of new orders for putting more "in" than pulling more "out", whereas you're referring to the accumulated totality of orders in the backlog.
As an analogy - after a long drought, when the water level in the reservoir is starting to rise, you wouldn't say "there can't be more water flowing into the reservoir than flowing out, otherwise the reservoir would be full already"... it takes quite a long time to fill.
We've got most of the past year's worth of withdrawal requests to deal with. It'll take at least several weeks of more people putting money "in" than (newly) pulling it "out" to get close to "normal market conditions".
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ian
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Post by ian on Feb 16, 2021 8:15:41 GMT
Based on past distributions approx 50% of investors (by value) wish to withdraw funds, whilst 50% of investors are passive; happy for cash remain invested. There is little or no evidence of new cash investments into accounts.
Meanwhile cash (rightly in my opinion) continues to be diverted to buy out loans in the GBBAs.
Back to my original point - I don’t think it is too much to ask for a degree of transparency as regards managements intentions re cash distributions, given the Access Accounts continue to be marketed as term fixed accounts,
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SteveT
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Post by SteveT on Feb 16, 2021 12:57:12 GMT
Based on past distributions approx 50% of investors (by value) wish to withdraw funds, whilst 50% of investors are passive; happy for cash remain invested. There is little or no evidence of new cash investments into accounts. Meanwhile cash (rightly in my opinion) continues to be diverted to buy out loans in the GBBAs. Back to my original point - I don’t think it is too much to ask for a degree of transparency as regards managements intentions re cash distributions, given the Access Accounts continue to be marketed as term fixed accountsHuh? When were they ever marketed as "term fixed accounts"? There was never a fixed term or a defined end date for the Access Accounts. They were always structured as rolling lending accounts, each back by a PF, with the option to accept a 30 or 90 day wait period on withdrawal requests in return for a higher rate of interest.
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ian
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Post by ian on Feb 16, 2021 13:13:21 GMT
They are marketed as 30 day & 90 day access accounts ...with some caveats ... the fact the continue to be named, despite not offering that redemption period for 11 months is blatant misrepresentation.
The financial ombudsman’s view as to what a lay-man might assume, will be interesting to say the least.
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dave4
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Post by dave4 on Feb 16, 2021 13:35:38 GMT
They are marketed as 30 day & 90 day access accounts ...with some caveats ... the fact the continue to be named, despite not offering that redemption period for 11 months is blatant misrepresentation. The financial ombudsman’s view as to what a lay-man might assume, will be interesting to say the least. Has anybody actually asked the Ombudsman ??
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alender
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Post by alender on Feb 16, 2021 13:47:16 GMT
Extracts from Asstez Website
A fair return and easy access with our Quick Access Account (QAA)
. . . Speedy cash transfers when you want
The QAA offers the best flexibility, liquidity and speediest ease of access of any Assetz Capital account to date. Thanks to its inbuilt 'cash cushion', cash withdrawals from the QAA usually take a fraction of a second, with some occurring in under 0.0002 seconds in normal market conditions! In addition, when you withdraw cash from your Assetz Capital accounts to your current account, these transfers take just two working days.
Looks to me like this is being marketed as a Quick Access Account with the usual caveat. Also before the lock in Assetz were keen to point out there was never any delays in getting funds out, when I asked Assetz in Feb 2020 about access I was told that they did not believe there would be any problems accessing funds.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 16, 2021 14:11:06 GMT
Extracts from Asstez Website
A fair return and easy access with our Quick Access Account (QAA)
. . . Speedy cash transfers when you want
The QAA offers the best flexibility, liquidity and speediest ease of access of any Assetz Capital account to date. Thanks to its inbuilt 'cash cushion', cash withdrawals from the QAA usually take a fraction of a second, with some occurring in under 0.0002 seconds in normal market conditions! In addition, when you withdraw cash from your Assetz Capital accounts to your current account, these transfers take just two working days.
Looks to me like this is being marketed as a Quick Access Account with the usual caveat. Also before the lock in Assetz were keen to point out there was never any delays in getting funds out, when I asked Assetz in Feb 2020 about access I was told that they did not believe there would be any problems accessing funds.
That appears to be a blog post from 2016 so probably doesn't count as current promotion. Even so it still comes with the banner warning about slower than normal withdrawals & abnormal conditions.
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alender
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Post by alender on Feb 16, 2021 14:43:55 GMT
Extracts from Asstez Website
A fair return and easy access with our Quick Access Account (QAA)
. . . Speedy cash transfers when you want
The QAA offers the best flexibility, liquidity and speediest ease of access of any Assetz Capital account to date. Thanks to its inbuilt 'cash cushion', cash withdrawals from the QAA usually take a fraction of a second, with some occurring in under 0.0002 seconds in normal market conditions! In addition, when you withdraw cash from your Assetz Capital accounts to your current account, these transfers take just two working days.
Looks to me like this is being marketed as a Quick Access Account with the usual caveat. Also before the lock in Assetz were keen to point out there was never any delays in getting funds out, when I asked Assetz in Feb 2020 about access I was told that they did not believe there would be any problems accessing funds.
That appears to be a blog post from 2016 so probably doesn't count as current promotion. Even so it still comes with the banner warning about slower than normal withdrawals & abnormal conditions. As you say this was from 2016 but it is still on the AC website for all to see including potential new investors. I would be surprised if AC are unaware of this page because if you google "assetz qaa" this is the first one on the list and I guess it must have been updated since the lock in as it contains the current interest rate.
It therefore still forms part of the AC promotion for AAs. At the very least it shows how AC was marking these accounts pre lock in.
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 16, 2021 18:31:53 GMT
Which pub are you holding this 'lock-in' at and what's the secret knock ?
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iRobot
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Post by iRobot on Feb 16, 2021 19:51:21 GMT
Which pub are you holding this 'lock-in' at and what's the secret knock ?
Don't know about getting in, but the passphrase to get out is ... ' sell at 0.2% discount'  
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 16, 2021 20:25:47 GMT
Which pub are you holding this 'lock-in' at and what's the secret knock ?
Don't know about getting in, but the passphrase to get out is ... ' sell at 0.2% discount' Interesting, I used sell at 0.1%, 0.3%, 0.5%, 1%, in fact, any positive number seems to work...
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