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Post by oldnick on Sept 13, 2015 22:28:20 GMT
chris how about direct investment in the QAA not being included in the 'Total Investment' on the Dashboard. Is that a known bug on the to do list? Yes. One for the minions. I KNEW it! You do use minions! andrewholgate was just trying to throw me off the scent, but I didn't fall for it.
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Post by pepperpot on Sept 13, 2015 22:43:16 GMT
That'll need a tweak as that's not the intension. It should only pull those funds required from the QAA, preferring to use idle cash where it can. As that's a fairly important one I'll try and fix it this evening. Was a simple fix in the end, revised code is now live. Glad my holidays tend to be less work orientated than yours!
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Post by andrewholgate on Sept 14, 2015 7:58:38 GMT
Yes. One for the minions. I KNEW it! You do use minions! andrewholgate was just trying to throw me off the scent, but I didn't fall for it. No, no and thrice no. I have staff (a bit like Royalty....but no Back Stairs Billy). Chris is a techie and in true "Despicable me" style he has minions. This is a view of his office... 
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Post by oldnick on Sept 14, 2015 8:35:46 GMT
I KNEW it! You do use minions! andrewholgate was just trying to throw me off the scent, but I didn't fall for it. No, no and thrice no. I have staff (a bit like Royalty....but no Back Stairs Billy). Chris is a techie and in true "Despicable me" style he has minions. This is a view of his office...  ? Is it going on AC's website?
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Post by oldnick on Sept 14, 2015 8:37:38 GMT
Oh by the way andrewholgate, if it's not too rude, what does a "backstairs billy" do? |
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pikestaff
Member of DD Central
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Post by pikestaff on Sept 14, 2015 8:39:13 GMT
... most of the loans with parts available right now aren't suitable for investment by the QAA because of their very limited liquidity. On the subject of liquidity, the description of the QAA includes the following: "The QAA is designed to provide the highest possible speed of access if you wish to sell your investment and return your cash for another purpose. In normal market conditions transferring funds between Assetz Capital Investment Accounts should be possible within seconds, while withdrawal of funds completely should happen within two days. We achieve this by providing investors in the QAA the highest priority of resale of any loans that you are invested in as well as maintaining a high level of cash within the account to satisfy immediate withdrawal demand." [emphasis added] If liquidity for the QAA is being prioritised over liquidity for regular lenders, this makes regular lenders worse off. It probably won't matter until there's a crisis, but if we all rush for the exit at once the QAA is going to be blocking the door.
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pikestaff
Member of DD Central
Posts: 2,187
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Post by pikestaff on Sept 14, 2015 8:42:26 GMT
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
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Post by ilmoro on Sept 14, 2015 15:11:33 GMT
Uh oh. Somethings not behaving right QAA currently 24k over its limit. Meanwhile GBBA has just sold a chunk of #165 for no apparent reason which is now earning no interest as QAA is full As Chris is on holiday. Who we gonna call? |
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Post by oldnick on Sept 14, 2015 15:31:04 GMT
Uh oh. Somethings not behaving right QAA currently 24k over its limit. Meanwhile GBBA has just sold a chunk of #165 for no apparent reason which is now earning no interest as QAA is full As Chris is on holiday. Who we gonna call? A minion?
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min
Member of DD Central
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Post by min on Sept 14, 2015 15:52:25 GMT
Uh oh. Somethings not behaving right QAA currently 24k over its limit. Meanwhile GBBA has just sold a chunk of #165 for no apparent reason which is now earning no interest as QAA is full As Chris is on holiday. Who we gonna call? Noticed that too. Also counted up my bids in upcoming loans and realised I needed another £350 in QAA for when they drawdown. Had more than that directly invested in QAA so withdrew and invested in MLIA. Delighted that it was swept straight into QAA so my QAA total remains unchanged but have moved £350 from directly invested to swept funds. Not sure why it worked when QAA is overfull but I'm NOT complaining.
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sl75
Posts: 2,092
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Post by sl75 on Sept 14, 2015 15:59:44 GMT
I'd prefer a limit related to the level of buying instructions an investor has -- encouraging investors to keep money available to cover those, which should be the principal raison d'être for the QAA -- though I'd worry about investors gaming the system. I'm not clear on what "problem" people are trying to "fix" with these myriad suggestions about ever-more-complex ways to calculate different limits for the QAA. The present £25k limit means that at most the impact of a single user liquidating their QAA holdings is 2.5% of the account - likely to be easily absorbed. Similarly, as funds churn in and out of the account, a single £25k attempted investment won't hold up the queue for very long. I'd also tend to think the initial £1M limit for the total investment in the account would have been set somewhat convservatively - once they've got a little more data on actual typical demand, this could potentially increase by at least an order of magnitude (at £1M it was sold out within a few hours of going live!). A "finger in the air" guess for where the limits might be within a few weeks would be around £10M total account limit, with the individual investment limit possibly up to £100k, or perhaps capped at an amount equivalent to the FSCS limit (so they're not encouraging client funds held in excess of this).
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iren
Member of DD Central
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Post by iren on Sept 14, 2015 16:52:41 GMT
Uh oh. Somethings not behaving right QAA currently 24k over its limit. Meanwhile GBBA has just sold a chunk of #165 for no apparent reason which is now earning no interest as QAA is full As Chris is on holiday. Who we gonna call? Noticed that too. Also counted up my bids in upcoming loans and realised I needed another £350 in QAA for when they drawdown. Had more than that directly invested in QAA so withdrew and invested in MLIA. Delighted that it was swept straight into QAA so my QAA total remains unchanged but have moved £350 from directly invested to swept funds. Not sure why it worked when QAA is overfull but I'm NOT complaining. I'm not sure either, considering my swept QAA balance is the same as on day one although I've had funds queueing ever since.
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duck
Member of DD Central
Posts: 2,880
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Post by duck on Sept 14, 2015 16:56:38 GMT
Uh oh. Somethings not behaving right QAA currently 24k over its limit. Meanwhile GBBA has just sold a chunk of #165 for no apparent reason which is now earning no interest as QAA is full As Chris is on holiday. Who we gonna call? My partners GBBA did exactly the same this afternoon with #165 but ever since the GBBA started the account has been above the aimed for 20%. This afternoons transaction took this down to 20.328% so whilst it is not good to have 'dead money' at least in my partners case the algorithm is trundling on correctly ....
Why do I always get a picture of small onions in my brain when minions are mentioned?
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jonah
Member of DD Central
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Post by jonah on Sept 14, 2015 17:19:40 GMT
The present £25k limit means that at most the impact of a single user liquidating their QAA holdings is 2.5% of the account - likely to be easily absorbed. Similarly, as funds churn in and out of the account, a single £25k attempted investment won't hold up the queue for very long. I'd also tend to think the initial £1M limit for the total investment in the account would have been set somewhat convservatively - once they've got a little more data on actual typical demand, this could potentially increase by at least an order of magnitude (at £1M it was sold out within a few hours of going live!). A "finger in the air" guess for where the limits might be within a few weeks would be around £10M total account limit, with the individual investment limit possibly up to £100k, or perhaps capped at an amount equivalent to the FSCS limit (so they're not encouraging client funds held in excess of this). I agree with this. Increases to the total limit for QAA are likely I feel. In terms of individual limits, the one number I hope AC avoids is the FSCS limit as I would hope that they don't get any confusion or issues with regulators.
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webwiz
Posts: 1,133
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Post by webwiz on Sept 14, 2015 17:34:22 GMT
Uh oh. Somethings not behaving right QAA currently 24k over its limit. Does this mean that there is at least £24K ahead of me in the queue? I might withdraw it and put it to use somewhere as it is earning nowt while it's waiting.
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