tonyr
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Post by tonyr on Nov 4, 2015 22:09:45 GMT
I am sure that the GEIA is not working at all as it should..
My last purchase in the account was on Sept 7th , that put me at nearly 100%
But then on 7th Oct it sold some Aberdeen WT , that dropped me below 95%
And no buys since then..
why would it do that after a month of being stable at near 100% I can't explain Bagman's GEIA behaviour, but my GEIA isn't doing a lot better. My last purchase was on 2/Sep. That effectively brought me up to 100% invested, leaving just some micropennies idle. Since then, I've had various interest and capital credits to my GEIA but no purchases, and I'm now about 3% uninvested. The thing that baffles me, and convinces me that there's something wrong with the way the GEIA is operating, is that my MLIA has made over 300 purchases and sales of GEIA-eligible loans in the intervening two months. Why haven't some of those transactions resulted in the topping up of my GEIA to 100% invested? Has the GEIA bought anything for anybody in the past two months? I've raised this issue before, asking whether chris thought what I was observing was expected GEIA behaviour, but I've not seen any response. The only good news I can report is that about 70% of my GEIA's idle funds are in the QAA, so at least they're earning something. As far as I understand it, Chris has coded up an algorithm that'll work when everything is as intended. The problem is that nothing is as intended. We have virtually no deal flow, nothing to buy and cash sitting idle. This results in the GEIA selling stuff in order to diversify that it can't buy back and so ends up less than 100% funded so you lose out. I've run companies like this - it's not an easy task. I'm sure they are not sleeping at night so have every motivation to get things working again.
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ben
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Post by ben on Nov 20, 2015 22:45:05 GMT
I have had money sat there waiting to then they send emails advertising it , why advertise it when nothing there to be honest Im starting to think its just there so they can lend your money out and just pay the lower monthly rate. Think I might just pull out of assetez, after ratesetter was the 2nd p2p site I really used and has probably done the worst out of all of them and has the least of my money in.
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Post by Ton ⓉⓞⓃ on Nov 21, 2015 15:14:50 GMT
I have had money sat there waiting to then they send emails advertising it , why advertise it when nothing there to be honest Im starting to think its just there so they can lend your money out and just pay the lower monthly rate. Think I might just pull out of assetez, after ratesetter was the 2nd p2p site I really used and has probably done the worst out of all of them and has the least of my money in. There have not been any new loans for this account for some time (last one being Conwy WT drawn July), so I think it's silly to advertize it as you say, but there is one on the horizon. It's an N.I. wind turbine yielding 10% (check out the 'upcoming loans' on AC loan No. 188) trouble is it's been coming since June or July 2015. There was another N.I. WT and it seemed to have the same sort of delay after delay; eventually it was pulled. Not sure if it's the Borrower's fault or just circumstances. So I suggest you keep your eye on this one loan and wait for the "Underwriting Called" tag to appear next it, then put your money in immediately, that's the signal that Legals are j ust about all done and the loan will launch to the public final checks all being well. Thing is when there are these sorts of delays I always wonder what was the real reason I then start to reduce my target or ignore it. EDIT There is a chance that Lenders who hold other WT loans directly (i.e. not in the geia like myself) might sell one turbine (or digester) to diversify into this new WT loan or in reality any other loan. EDIT2 ben Have you seen #218 Armargh WT has recently appeared! It's drawing very soon, most (in fact 75%) is meant to be going to the geia.
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mikes1531
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Post by mikes1531 on Nov 21, 2015 15:57:23 GMT
There have not been any new loans for this account for some time (last one being Conwy WT drawn July), so I think it's silly to advertize it as you say, but there is one on the horizon. If the GEIA has been as successful as I think we've been told it has, then the lack of any recent new loans for these accounts would mean there's probably a lot of 'uninvested' money waiting to pounce on the next GEIA-eligible loan to draw down. AC must know just how much pent up demand there is and how it compares to the £450k size of the one loan we know is upcoming, but I suspect there's more than enough demand to absorb that one loan. If AC are spending money on adverts for these accounts then it would seem that either... - Their marketing people aren't adjusting their activities in consultation with those who know what AC have to 'sell'; or
- There are more GEIA-eligible loans in the pipeline that we can't see yet.
I sure hope it's the latter, because if it's the former then AC would appear to be shooting themselves in the foot. And, as someone committed to being a future shareholder, I sure hope that's not the case.
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Post by Ton ⓉⓞⓃ on Nov 21, 2015 16:06:48 GMT
There have not been any new loans for this account for some time (last one being Conwy WT drawn July), so I think it's silly to advertize it as you say, but there is one on the horizon. If the GEIA has been as successful as I think we've been told it has, then the lack of any recent new loans for these accounts would mean there's probably a lot of 'uninvested' money waiting to pounce on the next GEIA-eligible loan to draw down. AC must know just how much pent up demand there is and how it compares to the £450k size of the one loan we know is upcoming, but I suspect there's more than enough demand to absorb that one loan. If AC are spending money on adverts for these accounts then it would seem that either... - Their marketing people aren't adjusting their activities in consultation with those who know what AC have to 'sell'; or
- There are more GEIA-eligible loans in the pipeline that we can't see yet.
I sure hope it's the latter, because if it's the former then AC would appear to be shooting themselves in the foot. And, as someone committed to being a future shareholder, I sure hope that's not the case. Thing is I'm sure that we said the same sort of thing for another loan where there was a long wait and we fully expected it go in a few days with all the assumed pent up demand only to find that it didn't. I have a suspicion that your first answer holds more truth. I think there's a very limited number of loans to come through from NI.
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Post by chris on Nov 21, 2015 20:05:16 GMT
There have not been any new loans for this account for some time (last one being Conwy WT drawn July), so I think it's silly to advertize it as you say, but there is one on the horizon. If the GEIA has been as successful as I think we've been told it has, then the lack of any recent new loans for these accounts would mean there's probably a lot of 'uninvested' money waiting to pounce on the next GEIA-eligible loan to draw down. AC must know just how much pent up demand there is and how it compares to the £450k size of the one loan we know is upcoming, but I suspect there's more than enough demand to absorb that one loan. If AC are spending money on adverts for these accounts then it would seem that either... - Their marketing people aren't adjusting their activities in consultation with those who know what AC have to 'sell'; or
- There are more GEIA-eligible loans in the pipeline that we can't see yet.
I sure hope it's the latter, because if it's the former then AC would appear to be shooting themselves in the foot. And, as someone committed to being a future shareholder, I sure hope that's not the case. I'm promised there's a steady pipeline and a couple of new sources coming online but the effects won't be felt for another couple of months, and we're also working through a couple of new ideas to reinvigorate the market. Whilst the government changes seem to scupper the viability of lending to much larger installations we believe there's still a niche where our model can work so we definitely see a future for the GEIA. There is a lot of pent up cash, more than enough to swallow the £450k loan. We're currently debating whether or not we should reserve this loan just for the GEIA given how poorly serviced it has been recently to make sure a good majority of the pent up cash is invested. I know the GBBA / MLIA are hurting as well but suspect we'll need to do this on this occasion to try and manage the accounts more closely than would normally be necessary. There are also more loans for the GBBA / MLIA in next few weeks than the GEIA so whilst it will be the new year before deal flow is back to where we want it to be the pressure should be starting to ease as things get moving again. This month we'll originate roughly the same volume of loans as last month but as before the typical lead times mean that whilst there'll be some coming through more quickly the bulk of those loans originated this month won't hit until February / March / April on average. But there should be a good increase in deal flow between now and the end of the year with further steps in January and February.
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Post by crabbyoldgit on Nov 21, 2015 23:48:22 GMT
Cris if this is reserved for the geia only can we have notice so as to enable us to transfer funds so as to acquire a stake in this wt.
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Post by chris on Nov 22, 2015 8:10:49 GMT
Cris if this is reserved for the geia only can we have notice so as to enable us to transfer funds so as to acquire a stake in this wt. I've asked for that to be the case.
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Post by bracknellboy on Nov 22, 2015 9:00:40 GMT
if this ends up being reserved for the GEIA I'll be very disappointed. Even more so if it is a pointer for the future. AC have the right to do whatever they want, but if the future for manual investors is going to be a diet of predominantly half flaky SMEs plus property development loans, and enforced abstinence from the likes of WT loans I'm likely to end up making an enforced withdrawl.
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Post by chris on Nov 22, 2015 9:28:52 GMT
if this ends up being reserved for the GEIA I'll be very disappointed. Even more so if it is a pointer for the future. AC have the right to do whatever they want, but if the future for manual investors is going to be a diet of predominantly half flaky SMEs plus property development loans, and enforced abstinence from the likes of WT loans I'm likely to end up making an enforced withdrawl. If we go this route we would see it as a temporary measure only. With the lack of deal flow over the last few months we're not in normal market conditions. As they return over the next few months we'll not have any need to manage the market in this way. The marketplace has been designed from the ground up to enable the MLIA to participate in all loans and is my own principle means of investment. I'd rather like to see that continue.
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ben
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Post by ben on Nov 22, 2015 12:35:35 GMT
would it not be better to completely get rid of one of the GBBA or GEIA as seems pointless having two seperate funds when you have no loans and maybe in future look at it again once you have some movemenent
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Post by chris on Nov 22, 2015 14:51:59 GMT
would it not be better to completely get rid of one of the GBBA or GEIA as seems pointless having two seperate funds when you have no loans and maybe in future look at it again once you have some movemenent That doesn't fit the wider business plan and could be detremental to origination in the longer term with some of the other plans we have.
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ben
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Post by ben on Nov 22, 2015 15:03:22 GMT
would it not be better to completely get rid of one of the GBBA or GEIA as seems pointless having two seperate funds when you have no loans and maybe in future look at it again once you have some movemenent That doesn't fit the wider business plan and could be detremental to origination in the longer term with some of the other plans we have. I do like the idea and was the main reason why I joined originally once started p2p and had looked at a few companies It might not fit in with your longer term business plan but surely its better getting one working well and expanding to a second one then have two not doing a lot
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Post by chris on Nov 22, 2015 15:05:48 GMT
That doesn't fit the wider business plan and could be detremental to origination in the longer term with some of the other plans we have. I do like the idea and was the main reason why I joined originally once started p2p and had looked at a few companies It might not fit in with your longer term business plan but surely its better getting one working well and expanding to a second one then have two not doing a lot The anticipation, based on what the sales team are telling the board, are that the GBBA will be fixed in terms of deal flow in the next few weeks with the GEIA following a few weeks after. It has been suggested internally already but dismissed as an idea based on the sales information we have in front of us.
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oldgrumpy
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Post by oldgrumpy on Nov 22, 2015 15:17:35 GMT
"(I'm promised) there's a steady pipeline and a couple of new sources coming online but the effects won't be felt for another couple of months ...".... blah blah blah!!! Give that one a rest, Chris! It's been going on for over a year. "We're currently debating whether or not we should reserve this loan just for the GEIA given how poorly serviced"
What? With Falmouth and Cornwall on the brink of repaying ..... AC are suggesting my MLIA £3k+ will be excluded from County Tyrone??? So why have I been invited to place a buying instruction? Is AC really giving me so little alternative but to withdraw my funds? 
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