manue
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Post by manue on Mar 14, 2015 12:32:40 GMT
Hey Ed,
Can you explain to me and maybe others how this managed fund works, I have asked about 4 times now with no reply.. or am I just stupid.. someone said to me the other day on a forum that the most stupid question is one no one wants to ask.. I'm asking please..
Regards, manue..
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Post by MoneyThing on Mar 14, 2015 12:58:39 GMT
Afternoon manue. Very happy to explain this in more detail. Your email enquiry came in just before 10pm last night and is sitting pending to answer when I get a moment. (Weekends are a little busy with the children so I hope you will forgive the slight delay in responses at this time).
To hopefully cover the main points:
- The £10K Managed Portfolio will run for 6 months with a choice for the investor to liquidate or renew for another 6 months at the end of the loan term. - The Portfolio consists of individual loans under £200 (you can see the initial list of loans within the detail). - MoneyThing manages the Portfolio with Cash Shop so that as loans redeem or default, they are replaced with new loans of the same value to maintain the total of £10,000 (max 50% LTV.) - The Portfolio's will have a £100 initial bid limit per investor for the first 24 hours before the limit is lifted. - There are another four £10,000 Managed Portfolio's to be uploaded over the coming days since the 1st one is proving popular. - We will continue to upload loans individually for those of £400+.
If you or any others have any further questions please let me know and I would be happy to post answers here.
Kind regards,
Ed
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manue
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Post by manue on Mar 14, 2015 13:13:11 GMT
Afternoon manue. Very happy to explain this in more detail. Your email enquiry came in just before 10pm last night and is sitting pending to answer when I get a moment. (Weekends are a little busy with the children so I hope you will forgive the slight delay in responses at this time). To hopefully cover the main points: - The £10K Managed Portfolio will run for 6 months with a choice for the investor to liquidate or renew for another 6 months at the end of the loan term. - The Portfolio consists of individual loans under £200 (you can see the initial list of loans within the detail). - MoneyThing manages the Portfolio with Cash Shop so that as loans redeem or default, they are replaced with new loans of the same value to maintain the total of £10,000 (max 50% LTV.) - The Portfolio's will have a £100 initial bid limit per investor for the first 24 hours before the limit is lifted. - There are another four £10,000 Managed Portfolio's to be uploaded over the coming days since the 1st one is proving popular. - We will continue to upload loans individually for those of £400+. If you or any others have any further questions please let me know and I would be happy to post answers here. Kind regards, Ed
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manue
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Post by manue on Mar 14, 2015 13:21:16 GMT
Sorry Ed..Think I pushed the wrong button, anyway hope the children are behaving not giving you to much stress while your trying to keep us investors happy.
I understand the premise of the managed fund I don't understand how to fund it if it is by less than £200.00 bids its going to take a long time to invest 10K, can you define please.
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Post by MoneyThing on Mar 14, 2015 13:37:00 GMT
Sorry Ed..Think I pushed the wrong button, anyway hope the children are behaving not giving you to much stress while your trying to keep us investors happy.
I understand the premise of the managed fund I don't understand how to fund it if it is by less than £200.00 bids its going to take a long time to invest 10K, can you define please.
No problem at all - no wrong buttons! The restriction of 1 bid up to £100 is only in place for the first 24hrs to allow as many investors as possible to have an investment in this loan. (You will see if you have a look at other threads that this restriction was put in place only recently since previous loans were unrestricted and were taking a matter of minutes to fill which was understandably frustrating for those who were not around at the time). After 4pm today (when the restriction is lifted), then investors can invest as much as they like with what is left. MoneyThing has only been live for just over a month and we are busy sourcing a greater quantity of loans so that hopefully at some point the need for restrictions will be negated as there will be more loan opportunities than investor demand. Admittedly, I had anticipated to have the problem of not enough investors (rather than number of available loans), at this early stage in the life of MoneyThing. Kind regards, Ed
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Post by bracknellboy on Mar 14, 2015 16:09:12 GMT
Sorry Ed..Think I pushed the wrong button, anyway hope the children are behaving not giving you to much stress while your trying to keep us investors happy.
I understand the premise of the managed fund I don't understand how to fund it if it is by less than £200.00 bids its going to take a long time to invest 10K, can you define please.
@manue: I think a bit of a misunderstanding. The £200 number has nothing to do with bids: its the max limit on the value of individual items within the 'bundle'. As Ed has said: the limit on bids is temporary and is £100. Limit now gone (as has the remainding total available....)
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Post by mrclondon on Mar 14, 2015 16:15:43 GMT
MoneyThing I'm glad there are some more of these portfolio's to come 'cause I just secured zilch out of today's 4pm scrum and can now share some of the frustrations of those bidding on the earlier loans before the 24 hour limit was imposed. I tried maybe 4 or 5 times to get a bid in but each time got an error saying amount had changed please check and re-bid (or words to that effect). Very frustrating that I was obviously being processed in a queue but there was presumably less than my bid amount available when my bid was processed - surely it would be better to simply give the bidder who is in this position what remains of the loan rather than rejecting the bid. Not impressed, sorry.
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chrisf
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Post by chrisf on Mar 14, 2015 16:21:48 GMT
Maybe on these 10K portfolios, the bidding limit should be £100 for the first 24 hours rising to £200 max after 24hrs? It wouldn't have been a great surprise today if someone had just taken the full outstanding £3719 at 5 seconds past 4, and I can see that happening on a subsequent portfolio.
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bugs4me
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Post by bugs4me on Mar 14, 2015 16:27:21 GMT
MoneyThing I'm glad there are some more of these portfolio's to come 'cause I just secured zilch out of today's 4pm scrum and can now share some of the frustrations of those bidding on the earlier loans before the 24 hour limit was imposed. I tried maybe 4 or 5 times to get a bid in but each time got an error saying amount had changed please check and re-bid (or words to that effect). Very frustrating that I was obviously being processed in a queue but there was presumably less than my bid amount available when my bid was processed - surely it would be better to simply give the bidder who is in this position what remains of the loan rather than rejecting the bid. Not impressed, sorry. Agreed, it was frustrating but I guess it's a learning curve for MT ATM. I hope the next portfolio has a higher limit of say £200 which should just about fill within the 24 hour timeframe. I pay little attention to the number of registered lenders reported. The real figure required is the active number of registered lenders but I wouldn't expect that to be disclosed. Little doubt though that the £100 limit on this portfolio was too conservative - but that's me with hindsight which I have plenty of. If/when MT do get involved in higher value items - property perhaps, then this will take out some of the frustration being felt. What they do not want to do is start cheesing folks off especially at this early stage of development.
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chrisf
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Post by chrisf on Mar 14, 2015 16:32:22 GMT
The real figure required is the active number of registered lenders but I wouldn't expect that to be disclosed. It is disclosed in the weekly summary
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bugs4me
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Post by bugs4me on Mar 14, 2015 16:35:08 GMT
The real figure required is the active number of registered lenders but I wouldn't expect that to be disclosed. It is disclosed in the weekly summary Thank you - now off to specsavers!!!!
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mike
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Post by mike on Mar 14, 2015 16:41:55 GMT
While it's early days and it sounds good to be a victim of your own success today's bidding for the remainder of the managed fund was frustrating. If it's too time consuming to invest modest amounts I'll be off to elsewhere. The suggestion to raise the initial max from £100 is a good one and maybe a max needs to be set for the second phase. Keep up the good work Ed and let's hope next week is more rewarding from a lender perspective.
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Post by duncandive on Mar 14, 2015 17:04:24 GMT
I have to say that I was tempted to try for a £500 slice BUT thought it a bit unsporting. I'm glad that I chose to grab a smaller slice as by the time my bid was made it would have failed if I had gone for the £500. And that was only about 15 seconds after the bidding went open. Maybe it would be worth setting a max invlovement of £400/£500 by the end of the second 24 hours. OR perhaps try a Managed Fund of £20k or even £30k. Either way, I'm happy to have gained a second slice. MoneyThing will continue to get my vote right now for doing such a Great Job
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manue
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Post by manue on Mar 14, 2015 19:59:37 GMT
Sorry Ed..Think I pushed the wrong button, anyway hope the children are behaving not giving you to much stress while your trying to keep us investors happy.
I understand the premise of the managed fund I don't understand how to fund it if it is by less than £200.00 bids its going to take a long time to invest 10K, can you define please.
@manue: I think a bit of a misunderstanding. The £200 number has nothing to do with bids: its the max limit on the value of individual items within the 'bundle'. As Ed has said: the limit on bids is temporary and is £100. Limit now gone (as has the remainding total available....) I think there has been a big misunderstanding when this managed was listed the other day I thought that MT were looking for investors to invest 10K in there fund for 6months @ 13% in a bundle of assets listed at 50% LTV that they would manage and keep at the 10K level with an average investment of £200 in 50 assets, and every 6months you had the option of renewing or cashing out.
It seems I got it very wrong but that's how it came across in my world, a hundred pound a pop is not what I'm looking for to slow for me..
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Post by mrclondon on Mar 14, 2015 22:06:28 GMT
I think there has been a big misunderstanding when this managed was listed the other day I thought that MT were looking for investors to invest 10K in there fund for 6months @ 13% in a bundle of assets listed at 50% LTV that they would manage and keep at the 10K level with an average investment of £200 in 50 assets, and every 6months you had the option of renewing or cashing out.
It seems I got it very wrong but that's how it came across in my world, a hundred pound a pop is not what I'm looking for to slow for me.. Don't worry ... there are at least two others that thought (based on a direct PM conversation with ed) that MoneyThing's plan for the managed portfolio was a £10k portfolio per lender, something that sounded very attractive. I have a sneaky feeling that moneything's pre-launch market research didn't correctly identify the weight of money available in the p2p sector or come anywhere close. Despite a "soft launch" they now have a good problem ... demand outstrips supply by a factor that I'm not sure they really comprehend.
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