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Post by stevefindlay on Oct 28, 2016 14:27:37 GMT
paul123 "It's becoming more and more difficult to believe in the BM concept in that I could (and want to) put more money on the platform but I've no idea how long it would take to invest" Generally 7-28 days on average. It's been longer recently, but this is shortening again. paul123 "I calculate my XIRR every month and I'm sure if I *do* put more money on the platform today it's only going to make that return worse!" Yes, it will dampen your returns over the initial ramp up period, but the long run average should still be 7% and above. The other way to look at it is that you can target 2-4% in your first month , then 6-7% in month 2 and 7%-7.5%+ thereafter. paul123 "And I still don't understand how investing in 6.5% helps me to my 7% - was that ever explained?" If you have 50 loans - not every loan needs to be above 7.0% to average 7.0%. For example 25 loans at 6%, and 25 loans at 10%, is equivalent 50 loans at 8%. Or, adopting a sporting analogy, Jonny Wilkinson didn't have to score above 12.9 points in every one of his test appearances (max 32 points; min 0 points) to achieve an average of 12.9 points per test cap. But it was better for him to score 10 points in a game than 3 points.
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guff
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Post by guff on Oct 28, 2016 14:56:14 GMT
stevefindlay , I'd still like to be able to select to invest more than 2% in individual loans. Is this something you are considering?
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Post by stevefindlay on Oct 28, 2016 15:21:56 GMT
stevefindlay , I'd still like to be able to select to invest more than 2% in individual loans. Is this something you are considering? Not at present - we are keen to avoid any of our clients having a volatile / undesirable outcome in performance, and over-concentration can lead to this. I understand you may be invested with other platforms, and I apologise for operating a potentially overly protective system. Hopefully this request will become redundant though, as soon as we are back ahead of the curve for investment deployment.
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nairda
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Post by nairda on Nov 7, 2016 12:59:05 GMT
I am keen to invest more money in BondMason but right now my current investments seem to be going backwards. I have had several hundred pounds kicking around waiting to be lent for quite some time, and while my most recent loan being on 3rd November, as soon as money gets lent I get repayments which helps to maintain the unlent balance.
I don't see the point of adding money if lending is so slow.
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shuff27
Member of DD Central
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Post by shuff27 on Nov 8, 2016 8:39:00 GMT
Agreed. My unallocated cash has crept up to nearly £2k out of £9k total investment. Getting to the stage when I'm considering withdrawing the £2k & finding it a better home on another platform.
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Post by henders on Nov 8, 2016 10:22:24 GMT
Same here.
I'm £1400 in cash (on £7K investment).
I haven't been at the 95% invested target for a long time.
I'm hanging in there for a while to see if it resolves otherwise...
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nairda
Member of DD Central
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Post by nairda on Nov 8, 2016 11:16:18 GMT
I have been stuck at about 86% for weeks, not at all satisfactory.
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Post by sayyestocress on Nov 8, 2016 15:53:31 GMT
Long time lurker, first time poster here, hello!
I think some of the complaints about cash drag are a little unfair. Admittedly the size of my pot in Bondmason is realtively humble (likewise the variety of platforms I have discovered through this great forum) and has only been active for about 3 months, but my experience has been one where I don't believe there's another fire and forget type platform out there that's beating BM on return with the cash drag factored in. They seem to be victims of their own success with people throwing money at them they can't keep up with places to put it. Personally I'd rather that than people running for the hills making my invested money iliquid. Most of my p2p money has been in RS and Z for the past few years; RS rates are no longer attractive and the queues to reinvest capital and interest in Z seem endless as well as rates reducing to unattractive levels. I guess the secret to BM is little and often. I personally value diversity and liquidity in preference to the highest of highest rates and the hands off nature is a bonus and am thus far very happy with the product.
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Post by stevefindlay on Nov 8, 2016 16:11:44 GMT
We've invested another 6% of our assets so far this week, with loans hitting the platform each day. We are now in the 80%'s and heading toward the 90%s. We realise the last 4-6 weeks have appeared slower for many investors, thank you for your patience. We are now getting ahead of the curve again.
Of course, should you wish to, please do feel free to withdraw uninvested cash etc, and we will continue to keep people updated on our overall investment percentages here.
As always, if you have concerns over your specific account, please just drop us a line: invest@bondmason.com
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shuff27
Member of DD Central
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Post by shuff27 on Nov 9, 2016 10:15:36 GMT
Was allocated another £280 of loans yesterday but still only at about 82% invested. Will give it a couple more weeks before I start withdrawing spare cash. I accept that the way BM works I'll never be fully invested but the attraction of having an 'invest & forget' platform reduces if I have to worry about the level of investment.
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nairda
Member of DD Central
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Post by nairda on Nov 9, 2016 15:44:03 GMT
Today I put in a modest £220 on top of about £290 that has been sitting there for ages. At the time of writing (15:42) £210 has been invested. Now, is that my new money or part of my old money? Either way it is an interesting coincidence.
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Post by wiseclerk on Nov 9, 2016 15:50:33 GMT
I would assume that they might prioritize according to percentage invested in your account compared to average percentage invested over all accounts.
Once you put new money in your invested percentage sinks as more cash is sitting there, which might put you closer to the front of the queue.
At least that's my thinking.
Or it was just coincidence.
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Post by stevefindlay on Nov 9, 2016 17:52:43 GMT
Was allocated another £280 of loans yesterday but still only at about 82% invested. Will give it a couple more weeks before I start withdrawing spare cash. I accept that the way BM works I'll never be fully invested but the attraction of having an 'invest & forget' platform reduces if I have to worry about the level of investment. - please don't accept that you will have un-invested cash with BondMason. We expect all of our clients to be fully invested - there is no structural reason this shouldn't happen - and we expect our clients to hold us to task on this. We will continue to work hard to ensure clients are 100% invested - as was the case for most clients for most of 2016, prior to September for reasons stated in other posts: lots of new clients & lots of loan repayments.
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Post by stevefindlay on Nov 9, 2016 17:57:48 GMT
I would assume that they might prioritize according to percentage invested in your account compared to average percentage invested over all accounts. Once you put new money in your invested percentage sinks as more cash is sitting there, which might put you closer to the front of the queue. At least that's my thinking. Or it was just coincidence. Coincidence: we classify clients into three categories: (1) fully allocated (99-100%) (2) close to fully allocated (95-99%) (3) unsatisfactory (95% or less) Loans are allocated on a rotating batch basis (up to 5 loans at a time per client), with group (3) taking priority over group (2); and group (2) taking priority over group (1). You will see loans allocated, and then maybe a gap for a couple of days, and then more loans etc until you are fully allocated. To "game" the system you can try to ensure you will always have 94% invested, I guess, but you will quickly move to 95%. So it's probably pointless. We try to keep this allocation process equitable for all. We currently have 65% of clients in group (1); 10% in group (2); and the rest in group (3). (cc: nairda)
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littonowl
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Post by littonowl on Nov 10, 2016 10:24:51 GMT
I would assume that they might prioritize according to percentage invested in your account compared to average percentage invested over all accounts. Once you put new money in your invested percentage sinks as more cash is sitting there, which might put you closer to the front of the queue. At least that's my thinking. Or it was just coincidence.
(1) fully allocated (99-100%)
(2) close to fully allocated (95-99%)
(3) unsatisfactory (95% or less)
Loans are allocated on a rotating batch basis (up to 5 loans at a time per client), with group (3) taking priority over group (2); and group (2) taking priority over group (1).
You will see loans allocated, and then maybe a gap for a couple of days, and then more loans etc until you are fully allocated. To "game" the system you can try to ensure you will always have 94% invested, I guess, but you will quickly move to 95%. So it's probably pointless. We try to keep this allocation process equitable for all. We currently have 65% of clients in group (1); 10% in group (2); and the rest in group (3). (cc: nairda ) Thanks for the explanation of your workings, stevefindlay, it looks a pretty fair way of going about the allocation process to me (and no, I'm not in Group 1, before anyone asks !  ). Also, in fairness to BM, they're not the only platforms struggling to fully allocate lender funds atm either, especially amongst the 'fire and forget' sites...
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).