sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Oct 8, 2015 17:13:32 GMT
Log in - portfolio - (drop down list from avatar top right) - click on AC investment anywhere - updates is first tab, discussion fourth tab www.seedrs.com/post_investment/16105#9008 (not sure if this is me specific) Thanks, that's where I was looking but I don't see any tabs! I do for my other Seedrs investments. I'll contact Seedrs. If you're a Direct Investor you won't see the tabs and you won't get updates from Seedrs.
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Post by Jack Barlow on Oct 8, 2015 17:20:20 GMT
Thanks, that's where I was looking but I don't see any tabs! I do for my other Seedrs investments. I'll contact Seedrs. If you're a Direct Investor you won't see the tabs and you won't get updates from Seedrs. Thanks sqh, that'll explain it. I did wonder. I'll flag the issue with Assetz.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 8, 2015 18:08:00 GMT
If you're a Direct Investor you won't see the tabs and you won't get updates from Seedrs. Thanks sqh, that'll explain it. I did wonder. I'll flag the issue with Assetz. Hmmm. Pretty poor show when the direct investors don't get anything direct from AC though wouldn't you say stuartassetzcapital? Surely AC should be able to send such an update both to Seedrs and the few people they have on the direct investor list. Especially when the direct investors are also the largest investors.
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shimself
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Post by shimself on Oct 8, 2015 18:20:48 GMT
Firstly, as an investor via the Seedrs offering, I would have expected to have received this update directly. I didn't.  Can someone please let me know how it arrived? Was it a direct email from AC? From Seedrs? Or....? From seedrs - I get emails very often saying AC update, which are nearly always not news, but this was I have no idea why I cant get below the quote box
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shimself
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Post by shimself on Oct 8, 2015 18:24:27 GMT
.... If I can get an 8% yield from a currency hedged US High Yield bond index tracker, with almost zero platform risk, a 20bp TER, and daily liquidity, there isn't a huge space for <7% accounts. I've googled your tracker to death and not found it-which is it?
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tonyr
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Post by tonyr on Oct 8, 2015 18:50:11 GMT
Thanks sqh, that'll explain it. I did wonder. I'll flag the issue with Assetz. Hmmm. Pretty poor show when the direct investors don't get anything direct from AC though wouldn't you say stuartassetzcapital? Surely AC should be able to send such an update both to Seedrs and the few people they have on the direct investor list. Especially when the direct investors are also the largest investors. Yes, stuartassetzcapital, please count me in as one of the direct investors who would like to have this and all the other updates since close emailed.
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Post by Financial Thing on Oct 9, 2015 20:53:06 GMT
Neither can I so I apologize for misleading you! Somebody else asked the same question. I was actually looking at the Merrill Lynch HY index ( ML HY index yield), which closed just below 8% and the Bloomberg USD High Yield Corporate Bond Index which closed over 8% yesterday (Bberg HY index). In my company pension I can access US funds that track the ML HY index with a discount so it costs just 20bp. Unfortunately, however, I can't find any UK based ETF or OEIC that replicates the ML HY index (which is odd since it's the most well-known). The only option I have on my ISA or SIPP platforms for a US HY bond tracker seems to be iShares US HY ETF. However, this has a charge of 50bp (bit ouch) and the current yield seems to be only 7.05% because it tracks the iBoxx Liquid HY Bond Capped Index. I'm not really familiar with that index (though iBoxx itself is a major player); the difference I assume will be due to the 'liquid' element, with the older off-the-run bond issues (that yield more) excluded, it also seems to have a slightly lower duration and has capped bond weightings. EDIT: this is reply to shimself question Those bond funds are extremely volatile, probably the riskiest bond funds you can buy as as risky as regular equities so be very careful. When the US interest rates start to rise, those bond funds will almost certainly decline in value. The yields will also decrease.
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11025
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Post by 11025 on Oct 10, 2015 9:04:48 GMT
Update Report for October 2015 07 October 2015 Dear Investors We are writing to provide an update on business progress at Assetz Capital since the previous update in June. - Lending and Funding Lines: Since June we have now commenced lending with Victory Park Capital following conclusion of their fund raise and their contracts being fully signed. They are providing us an initial £150m funding line for loans. We are also in final legal negotiations with another institution for a similar amount that is expected to go live in October and have also signed a commitment letter with a third institution for a further £200 million for real estate lending that is expected to go live in January. This will take our funding lines to circa £500 million however we have retained substantial proportions of our loan origination for retail investors and we are finalising our new Innovative Finance ISA offering ready for next April. We also estimate we have approximately £200 million of capacity in our current retail investor base and we went through the 10,000 registered private investors level last week. Retail investment will remain a major focus for the business and we see the ISA opportunity as very significant in its ability for us to deliver very safe investment products for a modest coupon whilst delivering very competitive borrower interest rates that go right up against the challenger banks but with other USPs. - Business Progress: We recently launched two more investment accounts on the platform in addition to the original Green Energy Income Account paying 7% per annum. This started with the Great British Business Account that also pays 7% per annum and was followed by our Quick Access Account that provides a return on cash deployed on the platform that is not yet invested, thus removing one of the negatives for peer-to-peer lending where for most platforms cash that is not invested (such as loans repaid by borrowers prior to being reinvested) cannot earn a return. This Quick Access Account pays 3.75% per annum and is currently capped at £1 million and soon to be expanded to £2 million due to demand. This original £1 million was invested in just a few hours which was great to see from a lender demand point of view given the modest coupon. Although this account looks like an instant access deposit account it is backed by peer-to-peer loans producing income and therefore not a deposit taking structure for which we would need a banking licence. It is a good example of how peer-to-peer lending is beginning to encroach on traditional banking products but from an investment perspective where the added risk helps produce the enhanced returns. Nonetheless all of these accounts have a provision fund of 5% to cover the risk of capital loss or missed interest and this is a level that is not matched elsewhere in the industry. Our website also underwent a substantial upgrade recently, making it more user-friendly for both lenders and borrowers. - Awards and Recognition: 1) Credit Today Awards - Finalist: "Alternative finance platform of the year". 2) FinTech Excellence Awards - Winner: "Excellence in peer-to-peer lending". In the press there have been may references to us and the latest, in City AM (http://www.cityam.com/225438/debt-emporium), referred to us this week as : "... sector giant Assetz Capital launched an SME income account, targeting a 7 per cent gross per annum capped return" - Team: We have taken on several new staff including National relationship managers to deal with borrowers and brokers, customer service team members to maintain our high levels of service to lenders, another recoveries specialist to help maintain our very low loss rate is a platform by recovering any defaulted loans through the security we take every time and also grow our marketing team as we continue our drive into the large broker market in the UK. Our Invoice Discounting JV with IFG has hired a CEO, John Mellor (https://www.linkedin.com/pub/john-mellor/23/b35...) and strong progress is now being made in that division and we expect to bring those funding products to the Retail investor audience shortly. We hope to have other news to announce shortly and this is likely before the next quarterly update. was this emailed direct to you ? Didn't get this
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shimself
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Post by shimself on Oct 10, 2015 9:38:59 GMT
was this emailed direct to you ? Didn't get this I am an investor in AC via the seedrs crowdfunding platform. They sent an email saying there was an update, click here to go to the website. It was a happy accident that I did, because seedrs send these emails far too often.
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bigfoot12
Member of DD Central
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Post by bigfoot12 on Oct 10, 2015 9:51:26 GMT
Neither can I so I apologize for misleading you! Somebody else asked the same question. I was actually looking at the Merrill Lynch HY index ( ML HY index yield), which closed just below 8% and the Bloomberg USD High Yield Corporate Bond Index which closed over 8% yesterday (Bberg HY index). In my company pension I can access US funds that track the ML HY index with a discount so it costs just 20bp. Unfortunately, however, I can't find any UK based ETF or OEIC that replicates the ML HY index (which is odd since it's the most well-known). The only option I have on my ISA or SIPP platforms for a US HY bond tracker seems to be iShares US HY ETF. However, this has a charge of 50bp (bit ouch) and the current yield seems to be only 7.05% because it tracks the iBoxx Liquid HY Bond Capped Index. I'm not really familiar with that index (though iBoxx itself is a major player); the difference I assume will be due to the 'liquid' element, with the older off-the-run bond issues (that yield more) excluded, it also seems to have a slightly lower duration and has capped bond weightings. EDIT: this is reply to shimself question Those bond funds are extremely volatile, probably the riskiest bond funds you can buy as as risky as regular equities so be very careful I think that these funds are very volatile (everything seems to be very volatile these days including government bonds and gold) and probably aren't suitable for most people. But I don't expect my FC, AC and other P2P stuff to do well if there is another 2008 very soon, so perhaps P2P isn't suitable for most people either. When the US interest rates start to rise, those bond funds will almost certainly decline in value. The yields will also decrease. When US interest rates rise it is likely that these funds fall in value. When a bond falls in price its yield increases for new purchasers. The existing holders earn the same yield they did before the price fell. If defaults increase as a result of rising interest rates then returns may fall.
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Post by Financial Thing on Oct 11, 2015 1:06:25 GMT
Those bond funds are extremely volatile, probably the riskiest bond funds you can buy as as risky as regular equities so be very careful I think that these funds are very volatile (everything seems to be very volatile these days including government bonds and gold) and probably aren't suitable for most people. But I don't expect my FC, AC and other P2P stuff to do well if there is another 2008 very soon, so perhaps P2P isn't suitable for most people either. When the US interest rates start to rise, those bond funds will almost certainly decline in value. The yields will also decrease. When US interest rates rise it is likely that these funds fall in value. When a bond falls in price its yield increases for new purchasers. The existing holders earn the same yield they did before the price fell. If defaults increase as a result of rising interest rates then returns may fall. Corporate bond funds yields vary as interest rates move, this depends on the fund company and what they are offering as a yield rate. They rarely remain constant. Government bond fund yields tend to remain more stable.
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Post by andrewholgate on Oct 13, 2015 8:00:51 GMT
I'm not going to say much here, but I will counter some of the comments about what the retail investor will be offered.
There are three bands of investor; Institutions, Sophisticated and Retail. AC started in the middle band which is quite narrow and doesn't allow for much growth. The easier growth comes from Institutional money as it is large but comes with lots of caveats tied in. The stickiest form of money comes from Retail. By that, it tends to stay invested and doesn't chase the next new asset class. It is also deep, with something like £250bn in cash ISA's earning under 2%. We haven't served the retail market very well, which is why the new investment accounts were created. Retail has a limited view of what type of investment they want, and in simple terms it has to look and feel like a bank account. Our investment accounts do that but keep on the right side of the P2P rules.
We will continue to serve ALL investor classes. This means those who want to choose their loans and take a higher return but not have a provision fund in addition to the security we take can still have that.
In terms of rates, I feel the floor for P2B is around 7% borrower rate through to teens. This is the range that challenger banks are in. We do not have the leverage capabilities of banks to lend at 3% over base rate, nor do our lenders want to lend at such slim rates. I believe that we can still offer you competitive returns for your money.
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kermie
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Post by kermie on Oct 26, 2015 21:12:28 GMT
Minor update from Stuart on Seedrs, the most important of which (for those in the Seedrs convertible equity deal):
I get email notifications weekly from Seedrs, hence how I noticed it.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Oct 26, 2015 23:36:03 GMT
Minor update from Stuart on Seedrs, the most important of which (for those in the Seedrs convertible equity deal): I get email notifications weekly from Seedrs, hence how I noticed it. As another Seedrs investor I too get the weekly updates of the none Assetz progress and the rather pathetic prevarication from members of the Assetz board. I have other investments with Seedrs all of which have moved to completion in a timely manner. The promise above of getting the trigger event into this tax year fails to excite me given previous performance and after all, the end of this tax year is still five months away!
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mikes1531
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Post by mikes1531 on Oct 27, 2015 4:40:36 GMT
The promise above of getting the trigger event into this tax year fails to excite me given previous performance and after all, the end of this tax year is still five months away! IIRC, if the trigger event is later than a year after the Seedrs fundraising then the 10% discount starts growing, reaching 20% if the trigger event takes two years to happen. Does anyone know exactly when the first year is up?
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Can someone please let me know how it arrived? Was it a direct email from AC? From Seedrs? Or....?
