Mikeme
Member of DD Central
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Post by Mikeme on Sept 28, 2020 19:58:10 GMT
Thanks but how do I get to it from the AC site, I cant see any reference to it in the menu I also have no idea how to find these questions.
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jlend
Member of DD Central
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Post by jlend on Sept 28, 2020 20:07:01 GMT
Thanks but how do I get to it from the AC site, I cant see any reference to it in the menu I also have no idea how to find these questions. From the menu: About - News Then use the filter and select Blogs By default the filter is All
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ton27
Member of DD Central
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Post by ton27 on Sept 29, 2020 12:31:56 GMT
I cannot see how this generic blog can replace a more detailed Q & A.
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blender
Member of DD Central
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Post by blender on Sept 29, 2020 12:57:52 GMT
I cannot see how this generic blog can replace a more detailed Q & A. It can't clearly. It will be rather like Gardeners' Question Time - as I remember that. The blog will be a low level exchange, trotting out the same old answers and advice for beginners, dressed up in different ways. Stuart should not be expected to spend hours reading and answering questions here - nor getting into arguments. His time is much more valuable that that. So I think there should not be a 'questions for Stuart' thread. But equally, if he wishes to keep his finger on the pulse of issues as raised by serious lenders - I mean those whose knowledge and experience are much greater than mine - then keeping tabs on this forum and intervening when it is helpful or necessary pays dividends both to lenders and the platform.
What platforms seem to miss is an understanding of lender psychology, which is equally important, at difficult times, as the fine calculation of financial advantage which many assume drives lender decisions. There is some insight to be had here and advantage to be gained - for example I don't think AC understand how big a mistake the mechanistic 'don't panic' email was, or even why.
I remember when young Samir used to share his hopes, dreams and plans on the FC forum - before he went to the dark side. The forum could have saved him.
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Post by SophieAssetz on Sept 29, 2020 17:02:36 GMT
I also have no idea how to find these questions. From the menu: About - News Then use the filter and select Blogs By default the filter is All Apologies for the confusion regarding our new ‘Ask Our Panel’ feature. I’m Head of Marketing at Assetz Capital and I’ve been working with the panel to prepare answers to the various questions we have received. We’ll be sharing those answers in the next lender email early next week, which will direct you to a blog on the website. We’re always looking for ways to improve our communications, and if our lenders find this new feature useful and are asking questions, we will look to create a dedicated section on our website/ platform to facilitate this and make the Q&As easy to find and filter.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Sept 29, 2020 17:20:08 GMT
From the menu: About - News Then use the filter and select Blogs By default the filter is All Apologies for the confusion regarding our new ‘Ask Our Panel’ feature. I’m Head of Marketing at Assetz Capital and I’ve been working with the panel to prepare answers to the various questions we have received. We’ll be sharing those answers in the next lender email early next week, which will direct you to a blog on the website. We’re always looking for ways to improve our communications, and if our lenders find this new feature useful and are asking questions, we will look to create a dedicated section on our website/ platform to facilitate this and make the Q&As easy to find and filter. might be a nice idea to do it by video
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Post by drphil on Sept 30, 2020 8:47:23 GMT
I cannot see how this generic blog can replace a more detailed Q & A. What platforms seem to miss is an understanding of lender psychology, which is equally important, at difficult times, as the fine calculation of financial advantage which many assume drives lender decisions. There is some insight to be had here and advantage to be gained - for example I don't think AC understand how big a mistake the mechanistic 'don't panic' email was, or even why.
I would go further and say that, for an organisation entrusted with so much of our money, AC seem to display a frightening lack of understanding of the importance of investor confidence. This is the sort of thing that makes or breaks financial institutions. I certainly agree with your last sentence. If that wasn't the case, the timing was so bad that one has wonder if AC chose to deliberately engineer a rate spike to meet some hidden agenda.
And speaking of investor confidence, take the events of 12/13th March, Stuart said the situation had been deteriorating for several days beforehand so they must have known what was about to happen. Yet the tap was suddenly turned off early afternoon and then complete radio silence – no interim statement, nothing. All communication channels were turned off at 5.30 as usual (apart from some generalities from Chris on here) leaving us all to stew in our own juices until AC deemed it fit to let us know what was happening a day after the event.
When challenged on the tardiness, Stuart said words to the effect that they were inundated with regulatory work at the time. To me this is like being stuck at the top of a roller coaster on a Friday morning and waiting hours for help. The fire brigade then eventually arrives and says, “oh sorry we’re so late guys but we were all busy finishing a report to the HSE, on a rust problem on our fire tenders, that we promised them by the end of the week”!
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jlend
Member of DD Central
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Post by jlend on Sept 30, 2020 9:27:55 GMT
Does the recent extension of the CBIL scheme have any impact on AC's plans for restarting retail lending? It is a separate funding process so no it doesn't and we have restarted retail lending now and volume will increase. Thanks. You have been relatively quiet on restarting new Lending in the access accounts other than saying this needs normal market conditions to return. For avoidance of doubt, does this mean no new lending in the Access accounts until the secondary market returns to trading at par in the access accounts?
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Post by drphil on Sept 30, 2020 9:28:26 GMT
From the menu: About - News Then use the filter and select Blogs By default the filter is All Apologies for the confusion regarding our new ‘Ask Our Panel’ feature. I’m Head of Marketing at Assetz Capital and I’ve been working with the panel to prepare answers to the various questions we have received. We’ll be sharing those answers in the next lender email early next week, which will direct you to a blog on the website. We’re always looking for ways to improve our communications, and if our lenders find this new feature useful and are asking questions, we will look to create a dedicated section on our website/ platform to facilitate this and make the Q&As easy to find and filter. Hi Sophie and welcome to the forum. I’m sure that I speak for many of the members when I say that your, and the rest of the AC’s team, engagement on here is always appreciated.
On the subject of the Q&A panel, I was the first to welcome this when Stuart announced it on here. In a subsequent post, he said “This thread now needs to close as there is a new public system for these type of questions where we answer them on the website for all to see.” This implies that we can expect the sort of detailed answers that Stuart has been giving on here. I really hope that this is the case and it will be a proper interactive experience. Not something along the lines of a monthly blog entry such as “Several of our investors have asked questions about the role of CBILS (say) so this month we thought we’d explain this in more detail.”
And yes, there is definitely a need to make the Q&As easier to find. I never go onto the site without logging in first and from what I can see there is no way to access the blog from there.
And finally, on the subject of communication generally, I really hope that your mere presence on here is a recognition by AC that there is a lot of room for improvement in this area, including, in the worst case, grossly misleading statements, IMO, which continue on the site.
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jlend
Member of DD Central
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Post by jlend on Sept 30, 2020 9:32:49 GMT
Apologies for the confusion regarding our new ‘Ask Our Panel’ feature. I’m Head of Marketing at Assetz Capital and I’ve been working with the panel to prepare answers to the various questions we have received. We’ll be sharing those answers in the next lender email early next week, which will direct you to a blog on the website. We’re always looking for ways to improve our communications, and if our lenders find this new feature useful and are asking questions, we will look to create a dedicated section on our website/ platform to facilitate this and make the Q&As easy to find and filter. Hi Sophie and welcome to the forum. I’m sure that I speak for many of the members when I say that your, and the rest of the AC’s team, engagement on here is always appreciated.
On the subject of the Q&A panel, I was the first to welcome this when Stuart announced it on here. In a subsequent post, he said “This thread now needs to close as there is a new public system for these type of questions where we answer them on the website for all to see.” This implies that we can expect the sort of detailed answers that Stuart has been giving on here. I really hope that this is the case and it will be a proper interactive experience. Not something along the lines of a monthly blog entry such as “Several of our investors have asked questions about the role of CBILS (say) so this month we thought we’d explain this in more detail.”
And yes, there is definitely a need to make the Q&As easier to find. I never go onto the site without logging in first and from what I can see there is no way to access the blog from there.
And finally, on the subject of communication generally, I really hope that your mere presence on here is a recognition by AC that there is a lot of room for improvement in this area, including, in the worst case, grossly misleading statements, IMO, which continue on the site. Once you have logged in, scroll to the bottom of the page. There is a link to News. On the News page, select Blogs in the filter
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Post by stuartassetzcapital on Sept 30, 2020 9:34:00 GMT
It is a separate funding process so no it doesn't and we have restarted retail lending now and volume will increase. Thanks. You have been relatively quiet on restarting new Lending in the access accounts other than saying this needs normal market conditions to return. For avoidance of doubt, does this mean no new lending in the Access accounts until the secondary market returns to trading at par in the access accounts? We have never said that no. We have said we need to look after and fund existing borrower commitments and indeed the continued lending by the AAs for that purpose has been doing that throughout the crisis. That lending never stopped. As and when we are comfortable that future commitments are addressed then new lending can be reconsidered in order to keep the loan book fresh and old redemptions replaced as we are not in any kind of run off situation. That’s what the accounts say they will do and people expect. Without that why will people invest in a reducing book with no future ? Some would but it isn’t healthy for the future of the accounts and would suppress activity and hence withdrawals.
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jlend
Member of DD Central
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Post by jlend on Sept 30, 2020 9:42:13 GMT
Thanks. You have been relatively quiet on restarting new Lending in the access accounts other than saying this needs normal market conditions to return. For avoidance of doubt, does this mean no new lending in the Access accounts until the secondary market returns to trading at par in the access accounts? We have never said that no. We have said we need to look after and fund existing borrower commitments and indeed the continued lending by the AAs for that purpose has been doing that throughout the crisis. That lending never stopped. As and when we are comfortable that future commitments are addressed then new lending can be reconsidered in order to keep the loan book fresh and old redemptions replaced as we are not in any kind of run off situation. That’s what the accounts say they will do and people expect. Without that why will people invest in a reducing book with no future ? Some would but it isn’t healthy for the future of the accounts and would suppress activity and hence withdrawals. Thanks that is useful to know as it's not been clear to me. Will we get some notice when new lending will restart in the access accounts?
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Post by stuartassetzcapital on Sept 30, 2020 10:12:48 GMT
Yes we will provide notice but it’s a natural state of the accounts so it is likely to be more a notification. AA interest is looking healthy for next month’s payment again and AA PF contributions are strong too.
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Post by Ton ⓉⓞⓃ on Sept 30, 2020 10:46:33 GMT
I've been wondering about the AA's PF's and their segmentation - I know that the each of these accounts have separate PF's, but also that there appears to be is no segmentation between different years within each PF. So might it possible to get a pay out from the PF to an AA held loan that defaulted in a different business cycle, say, ten or more years in the past? (I know Assetz hasn't been going ten years and that the PF's aren't insurance only discretionary)
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Post by SophieAssetz on Oct 8, 2020 17:13:01 GMT
Hi,
Just a quick note to let you know the 'Ask our Panel' Q&A will now be released next week, I know I originally said it would be earlier this week, so I wanted to keep you updated.
I'm sorry for the delay on this, but we wanted to take the extra time to ensure all of the panel members could feed back on the questions received.
Sophie
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