jonah
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Post by jonah on Sept 21, 2015 19:32:23 GMT
@bobo there was an update on invoice factoring from andrewholgate in another thread somewhere last week. The summary was that the new chief of that function is in place, doing stuff and I think a timescale was mentioned. It was clear in what format, if any, we mere lenders would see any output, but options including QAA and another packaged account were there I think. |
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gt94sss2
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Post by gt94sss2 on Sept 21, 2015 19:43:46 GMT
@bobo there was an update on invoice factoring from andrewholgate in another thread somewhere last week. The summary was that the new chief of that function is in place, doing stuff and I think a timescale was mentioned. It was clear in what format, if any, we mere lenders would see any output, but options including QAA and another packaged account were there I think. Andrew's reply is here - in response to a question I asked
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Post by Ton ⓉⓞⓃ on Sept 23, 2015 14:11:26 GMT
To an extent I find that my money is "trapped" in the QAA. Let me explain. I moved a largish amount in when it was introduced using the direct to QAA reference on the website, I only did this to avoid a 2 step process of CA first then MLIA and auto sweep into QAA as the QAA was filling up fast. Now all that money appears as my "Direct Investment" pot. If I want to use that to invest in the MLIA, which is my purpose for all of that money over time, I have to move some of it back to my CA, then assign it to MLIA. When I have done that of course it is outside the QAA as that money is now at the back of the queue. This serves as a disincentive to me to use that money in my MLIA cash pot to wait for invesment opportunities, hence decreases the churn in the QAA - not a good thing I would say. Mine is swept in from cash, but I'm simply moving money from there to the QAA queue to cover the loans as the Underwriting is called, because your money is first taken from the queue then from swept MLIA idle funds in the QAA. So today I moved a few hundred from idle Cash held in the QAA to the queue to cover the drawdown in the next couple of days.
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shimself
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Post by shimself on Sept 24, 2015 16:41:11 GMT
So assuming that I have to move funds out of direct qaa investment into cash and thence into MLIA, and seeing as MLIA told me the total net instruction was -297, I did move 297 on that path
sadly total net instruction figure hasn't changed even though awaiting investment has gone up correctly???
is it me?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 24, 2015 17:19:37 GMT
So assuming that I have to move funds out of direct qaa investment into cash and thence into MLIA, and seeing as MLIA told me the total net instruction was -297, I did move 297 on that path sadly total net instruction figure hasn't changed even though awaiting investment has gone up correctly??? is it me? Net instruction is the value of your buy orders minus your sell orders. It wont be affected by adding cash just amending/ cancelling instructions.
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shimself
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Post by shimself on Sept 24, 2015 19:13:22 GMT
So assuming that I have to move funds out of direct qaa investment into cash and thence into MLIA, and seeing as MLIA told me the total net instruction was -297, I did move 297 on that path sadly total net instruction figure hasn't changed even though awaiting investment has gone up correctly??? is it me? Net instruction is the value of your buy orders minus your sell orders. It wont be affected by adding cash just amending/ cancelling instructions. Oh I see. If that is the same as the sum of the INSTRUCTED loans (yes?) then it's wrong by a country mile. Oh in fact it's the sum of my sell instructions, nothing to do with net. Ah, it excludes the loans which aren't yet drawn down. Once I've managed to get all my idle funds into the QAA it won't matter so much, but still I think the figure should include loans which aren't drawn down, seeing as that is to my mind half the point of the QAA (so when it's drawn down I don't miss out because of not having cash available)
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agent69
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Post by agent69 on Sept 28, 2015 17:30:23 GMT
will the QAA ever start working normally for MLIA holders? Finally seen my spare cash going into the QAA (3 tranches in the last few hours). Hopefully the rest will follow without too much delay.
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mikes1531
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Post by mikes1531 on Sept 28, 2015 18:40:59 GMT
will the QAA ever start working normally for MLIA holders? Finally seen my spare cash going into the QAA (3 tranches in the last few hours). Hopefully the rest will follow without too much delay. I can speak for the MLIA, because my money there seems to be moving in and out with enough regularity that I expect whatever idle cash I have there is at the back of the QAA queue. But I'm totally confused about what's happening in my GEIA. I had a fractional 1p move into the QAA at the beginning, on 9/Sep. Since then, starting on 15/Sep, I've had a number of interest and principal payments received and they're just sitting there doing nothing. I would have hoped that there would be enough turnover in the QAA that my idle GEIA money would have moved to the front of the queue within a fortnight, but it hasn't.  The other thing I can't understand about my GEIA is why the idle money is collecting in the first place. I accept that it's less than £1 because my GEIA investment was only an experiment, but it does represent nearly 1% of my GEIA total. And my MLIA has been busy buying and selling parts of numerous loans that are GEIA-eligible, so it's not as if the GEIA hasn't had opportunities to put my idle cash to work. chris: Is this the way you'd expect the GEIA to be working? Is there some minimum idle cash setting that was put in place to stop excessive trading of tiny parts that's stopping my account from seeing any purchasing activity?
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star dust
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Post by star dust on Sept 28, 2015 18:56:47 GMT
Finally seen my spare cash going into the QAA (3 tranches in the last few hours). Hopefully the rest will follow without too much delay. I'm not a fan of the QAA, it's 're-packaged' debt to me, invested in a lot of things I've decided not to; nonetheless I might as well have my small amount of draw-down ready MLIA funds invested in it rather than earning zilch I thought, but apparently that isn't possible. The root of these issues of course, is the almost total lack of deal flow, will the dam break before my patience does?
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Sept 30, 2015 13:25:44 GMT
My spare cash hasn't had a sniff at the QAA since it started.
I wonder if the maximum per person should be limited to the total buy instructions they have in place. If the maximum is £25k someone with zero buy instructions is using it as an investment account which is not the purpose of account .
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tonyr
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Post by tonyr on Sept 30, 2015 18:45:02 GMT
My spare cash hasn't had a sniff at the QAA since it started. I wonder if the maximum per person should be limited to the total buy instructions they have in place. If the maximum is £25k someone with zero buy instructions is using it as an investment account which is not the purpose of account . Oh - I think that AC should be marketing it as an investment account. Just think of it - better rates and instant access, you can't get that elsewhere. Then when people have their money in and trust AC they can think about the GEIA and the GBBA. And eventually, if they have enough time the MLIA. Of course, this does depend on AC delivering on promises and getting the loans coming in.
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Post by chris on Sept 30, 2015 18:54:53 GMT
My spare cash hasn't had a sniff at the QAA since it started. I wonder if the maximum per person should be limited to the total buy instructions they have in place. If the maximum is £25k someone with zero buy instructions is using it as an investment account which is not the purpose of account . Oh - I think that AC should be marketing it as an investment account. Just think of it - better rates and instant access, you can't get that elsewhere. Then when people have their money in and trust AC they can think about the GEIA and the GBBA. And eventually, if they have enough time the MLIA. Of course, this does depend on AC delivering on promises and getting the loans coming in. It is definitely an investment account. It almost launched without the sweep function, that was added as we were ahead of schedule at the time and perhaps had a moment of over confidence in how easy it would be to build.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Sept 30, 2015 19:15:13 GMT
hmmm... 3.75% can't wait to invest  , but tomorrow would be even better if some of the promised upcoming loans could drawdown! This isn't an invest and hold account, or even a one month access account, it's designed to be near instant access account in normal market conditions. One feature the email didn't cover is that you can set your other accounts to automatically invest idle cash in the QAA. So you could have £10k invested in the MLIA, for example, waiting for a loan to draw down or waiting for obscure loan units to become available and that money will earn 3.75% until it's needed. The system will automatically pull the money out of the QAA as soon as loan units become available on the loans you're interested in. Ok, which is it an investment account for 40 people with 25k spare or holding account for all your customers?
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Post by chris on Sept 30, 2015 19:34:42 GMT
This isn't an invest and hold account, or even a one month access account, it's designed to be near instant access account in normal market conditions. One feature the email didn't cover is that you can set your other accounts to automatically invest idle cash in the QAA. So you could have £10k invested in the MLIA, for example, waiting for a loan to draw down or waiting for obscure loan units to become available and that money will earn 3.75% until it's needed. The system will automatically pull the money out of the QAA as soon as loan units become available on the loans you're interested in. Ok, which is it an investment account for 40 people with 25k spare or holding account for all your customers? Just because it's not an invest and hold account doesn't mean it's not an investment account. It's not designed to take all your funds and deploy them across a suite of loans, it's optimised for instant access. So lenders can deposit funds, invest them via the QAA, and move them out quickly when they need to. The sweep function is a convenient way to do that automatically with funds you're trying to deploy elsewhere. At the moment it's roughly a 60/40 split between direct investment and swept funds. We don't want that ratio to move further towards direct investment so there will be some changes made. The QAA is envisaged to grow much bigger than the £1m limit but we need a combination of loans drawing down, interest being earned by the invested cash (this is the biggest blocker on just upping the limit now), and making sure there's enough cash queued to help the liquidity part. That last bit isn't a problem at the moment.
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Post by chris on Sept 30, 2015 19:35:54 GMT
This isn't an invest and hold account, or even a one month access account, it's designed to be near instant access account in normal market conditions. One feature the email didn't cover is that you can set your other accounts to automatically invest idle cash in the QAA. So you could have £10k invested in the MLIA, for example, waiting for a loan to draw down or waiting for obscure loan units to become available and that money will earn 3.75% until it's needed. The system will automatically pull the money out of the QAA as soon as loan units become available on the loans you're interested in. Ok, which is it an investment account for 40 people with 25k spare or holding account for all your customers? Also there are over 300 people with funds currently in the QAA.
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, but tomorrow would be even better if some of the promised upcoming loans could drawdown!