bigfoot12
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Post by bigfoot12 on May 7, 2015 7:53:16 GMT
AltFi is showing AC as £16.1m year to date. I see loans drawn so far this year at about £5.8m so it looks as though there must something else going on. Have most of the promised loans gone to one or more of the institutions?
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hendragon
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Post by hendragon on May 18, 2015 17:08:58 GMT
I regret to say that AC has moved on from the small to middle size investors. As someone who used to have £25k invested I found I was relegated from a gold account and shadow bidding to the, (IMHO), nonsensical auto-buying system. It seems the attitude of AC to my size of investor is "take it or leave it" they need us far less than they used to. The underwriters and hnwis take first pick and we hoi polloi get whatever is left. Having said that there are still things about AC I like, and loans I wish to hang on to. I have also made a good profit over the last 18 months. The decreasing rates of return and downgrading of accounts have led me to remove 60% of funds, and invest elsewhere. If rates decline further so will my investments. I doubt very much if AC will miss an investor of my size. It is true however, that losing some investors of modest means may be ok larger investors can chase the best returns. Lose a few of them and there can be serious consequnces.
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tonyr
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Post by tonyr on May 18, 2015 20:40:00 GMT
AltFi is showing AC as £16.1m year to date. I see loans drawn so far this year at about £5.8m so it looks as though there must something else going on. Have most of the promised loans gone to one or more of the institutions? Could you give us the like to the "AltFi is showing AC as £16.1m year to date" number? I'm on www.altfi.com and don't see it. Ta.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on May 18, 2015 20:45:23 GMT
I regret to say that AC has moved on from the small to middle size investors. As someone who used to have £25k invested I found I was relegated from a gold account and shadow bidding to the, (IMHO), nonsensical auto-buying system. It seems the attitude of AC to my size of investor is "take it or leave it" they need us far less than they used to. The underwriters and hnwis take first pick and we hoi polloi get whatever is left. Having said that there are still things about AC I like, and loans I wish to hang on to. I have also made a good profit over the last 18 months. The decreasing rates of return and downgrading of accounts have led me to remove 60% of funds, and invest elsewhere. If rates decline further so will my investments. I doubt very much if AC will miss an investor of my size. It is true however, that losing some investors of modest means may be ok larger investors can chase the best returns. Lose a few of them and there can be serious consequnces. I mirror your experience almost identically although I started pulling out about 18 months ago due to falling rates. Then we had the advent of the new system and the shambles that followed and I pulled the rest, except seven loans that were stuck in suspension. One has since resolved but I fear it could be quite a while before the remainder get sorted one way or another. Yes, I am sure AC has made a major change in direction and will open-up new investment channels shortly. Who will benefit? Only those with very deep pockets I fear.
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bugs4me
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Post by bugs4me on May 18, 2015 21:44:39 GMT
I regret to say that AC has moved on from the small to middle size investors. As someone who used to have £25k invested I found I was relegated from a gold account and shadow bidding to the, (IMHO), nonsensical auto-buying system. It seems the attitude of AC to my size of investor is "take it or leave it" they need us far less than they used to. The underwriters and hnwis take first pick and we hoi polloi get whatever is left. Having said that there are still things about AC I like, and loans I wish to hang on to. I have also made a good profit over the last 18 months. The decreasing rates of return and downgrading of accounts have led me to remove 60% of funds, and invest elsewhere. If rates decline further so will my investments. I doubt very much if AC will miss an investor of my size. It is true however, that losing some investors of modest means may be ok larger investors can chase the best returns. Lose a few of them and there can be serious consequnces. If that's what has happened then it goes against what the platforms themselves advise which is diversification. If an institution pops along with a spare £50m or what have you then they will demand the cherries and no doubt get them. The upside for the platform is that after a bit of DD by the institution they are then usually left to their own devices provided their projected overall return is obtained. The downside for the platform is when P2P goes out of fashion - remembering the dotcom craze when anyone with a web site was valued at goodness knows how much as the institutions were gambling on the next MSoft or Apple and didn't want to be left out - then the institutions move on and where are the bread and butter lenders - well they've gone to greener pastures and you rarely get previously 'alienated' lenders back. So they, the P2P platforms need to tread carefully IMO. I can understand platforms being fazed by one investor with huge funds at their disposal but I can also see the risks. Whether the platforms currently engaged with institutions are astute enough to deal with them is another matter.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on May 19, 2015 7:47:05 GMT
AltFi is showing AC as £16.1m year to date. I see loans drawn so far this year at about £5.8m so it looks as though there must something else going on. Have most of the promised loans gone to one or more of the institutions? Could you give us the like to the "AltFi is showing AC as £16.1m year to date" number? I'm on www.altfi.com and don't see it. Ta. You have to click on the plus on the left to expand P2P Lenders, then click on the plus to expand P2P Business Lenders. The third entry down, as I type, is AC with a Year to date lending (final column) of £16.1m.
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hendragon
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Post by hendragon on May 19, 2015 7:51:00 GMT
I don't mind people saying they are leaving the platform and I myself don't expect things to stay the same forever but I wish they would say where they are going.  I very much understand there are perfectly acceptable reasons for not saying so. fair comment. In my case funds have gone towards SS, FS and lately MT, with very much smaller ammounts in FK and FE. No site is perfect, and to some extent I have come to the conclusion that chasing the best returns, by weighting investments on a shorter timescale (the old credit card shuffle) may be best.Thus I would regard AC to be on hold/reduce, ss on hold, fs on hold/reduce, fk on hold, fe on hold/increase (small scale), and mt on increase. I would also add that I have been on zopa reduce and ratesetter incease for some time.
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