ilmoro
Member of DD Central
'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 7:16:20 GMT
raising 150 mil, £1 a share, targetting 8-9% NAV, 6-7% divi. invest 50- 100% in uk, up to 50% US
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arbster
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Post by arbster on Sept 24, 2015 7:27:35 GMT
Some of that is in the FT article from July, in particular: Is there a more recent article, possibly from the horse's mouth? |
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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: 11,329
Likes: 11,549
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Post by ilmoro on Sept 24, 2015 7:32:32 GMT
Some of that is in the FT article from July, in particular: Is there a more recent article, possibly from the horse's mouth? IPO announced in RNS this morning
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blender
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Post by blender on Sept 24, 2015 7:43:04 GMT
www.investegate.co.uk/funding-circle-sme/rns/intention-to-launch-a-new-london-listed-fund/201509240700130310A/ The company seems to be registered in Guernsey with four (of five) independent non exec directors. Will buy whole loans at the normal 1% charge plus a small facilities management fee to FC. Fixing the loan interest rates will of course make the dividend more predictable. No sign of a property fund yet, and so property is the area where FC will need the support of its loyal band of active lenders (sorry - investors, I keep forgetting that FC is the lender).
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SteveT
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Post by SteveT on Sept 24, 2015 7:50:20 GMT
Interesting they've gone the WL route, so the IT won't be able to help fill the larger fixed rate PLs
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Post by pete101 on Sept 24, 2015 8:49:45 GMT
Thanks for the info. Is a Guernsey based fund able to be placed in a UK ISA? Cant see this sort of return being attractive (bearing in mind the underlying investment risks) unless there is some sort of tax benefit i.e. no further tax to be paid on income.
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Post by Deleted on Sept 24, 2015 8:53:17 GMT
Pete, you are getting confused about who the fund is designed to benefit.  What happens on Guernsey stays on Guernsey. |
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bjorn
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Post by bjorn on Sept 24, 2015 18:35:42 GMT
Thanks for the info. Is a Guernsey based fund able to be placed in a UK ISA? Cant see this sort of return being attractive (bearing in mind the underlying investment risks) unless there is some sort of tax benefit i.e. no further tax to be paid on income. Yes - will be able to put in ISAs according to this article. 8% tax-free is equivalent to 13%+ before tax for a higher rate payer so it certainly compares quite favourably with other p2p options which are currently taxed. I guess the big questions are how many of the platforms that currently pay higher rates (say, 12% and above) we'll be able to get within ISAs and whether the rates will stay at those levels if/when that happens?
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