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Post by rookyone on Jan 5, 2017 11:02:23 GMT
I dipped my toe into the p2p market by spreading some cash across five different companies.
There always has to be a last place, and this I have awarded to bond-mason, why?
Initially my £1k was invested over a two to three week period. This performance mean't I was confident to increase my initial investment. However, I know find that 30% of my investment is sitting there in cash. Looking at bond-mason performance they have made just a single £30 investment from the 5th of last month to the 5th of this month. Oh dear....
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Post by trentenders on Jan 5, 2017 11:13:16 GMT
You got 70% invested over the Xmas and New Year period. You didn't have to do your own due diligence and presumably don't have any defaults (yet), so it doesn't sound terrible to me...
Would it be better if they had put your hard earned money into the first loans they could find, regardless of quality? Did you do that with your other four platforms?(!).
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Post by sannytwist on Jan 5, 2017 12:02:46 GMT
I dipped my toe into the p2p market by spreading some cash across five different companies. There always has to be a last place, and this I have awarded to bond-mason, why? Initially my £1k was invested over a two to three week period. This performance mean't I was confident to increase my initial investment. However, I know find that 30% of my investment is sitting there in cash. Looking at bond-mason performance they have made just a single £30 investment from the 5th of last month to the 5th of this month. Oh dear.... Maybe before you invest your money, its better to phone in the p2p platform your using and speak to them how the service works. Sounds like you expected something else, l suggest doing more research before dipping your toes.
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Post by rookyone on Jan 5, 2017 12:58:14 GMT
"... Sounds like you expected something else, l suggest doing more research before dipping your toes." You should not assume I did not.
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rick24
Member of DD Central
Posts: 244
Likes: 138
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Post by rick24 on Jan 5, 2017 13:06:30 GMT
This is the 'cash drag' issue exhaustively discussed in a separate thread. I've been 90%+ invested for some time now.
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Greenwood2
Member of DD Central
Posts: 4,384
Likes: 2,784
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Post by Greenwood2 on Jan 5, 2017 14:52:28 GMT
It probably takes a year or more to decide if any particular platform was a good choice. It takes a while to evaluate performance and bad debts (which are the major problem) take a while to start to creep in. Six months in BM looking OK so far, no bad debts and last month, with no money added or removed from my account, my (projected) yearly interest rate was 6.8%, so close to their target.
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Post by stevefindlay on Jan 5, 2017 21:39:31 GMT
I dipped my toe into the p2p market by spreading some cash across five different companies. There always has to be a last place, and this I have awarded to bond-mason, why? Initially my £1k was invested over a two to three week period. This performance mean't I was confident to increase my initial investment. However, I know find that 30% of my investment is sitting there in cash. Looking at bond-mason performance they have made just a single £30 investment from the 5th of last month to the 5th of this month. Oh dear.... I'm very surprised (and sorry) that you went a whole month without a single new position. Please can you email me with your account so we can take a look at your settings etc: invest@bondmason.com We had a lot of news loans throughout December, so something doesn't seem right.
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Post by rookyone on Jan 6, 2017 12:58:46 GMT
"I'm very surprised (and sorry) that you went a whole month without a single new position..." That's not quite correct, I did say I received one new £30 investment in the last 32 days, with 30% of funds sitting it the cash account. Also, thank you kindly for the offer to e-mail you directly, however, I'm interested to see just how long it is before your algorithms kicks in and lower my cash holdings.
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Post by stevefindlay on Jan 6, 2017 13:07:30 GMT
"I'm very surprised (and sorry) that you went a whole month without a single new position..." That's not quite correct, I did say I received one new £30 investment in the last 32 days, with 30% of funds sitting it the cash account. Also, thank you kindly for the offer to e-mail you directly, however, I'm interested to see just how long it is before your algorithms kick in and lower my cash holdings. Of course - but please do let us know if your low level of allocation continues through the end of next week.
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Post by stevefindlay on Jan 17, 2017 18:04:32 GMT
rookyone - just wanted to follow up on this thread to see how you are getting on? We are seeing a good pipeline of loans, so hopefully your allocation is increasing. Please ask if you have any questions.
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Post by stevefindlay on Jan 31, 2017 19:32:54 GMT
rookyone - just to let you know we haven't forgotten about you. I hope you are fully allocated by now, and would love to hear any comments you may have.
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Post by rookyone on Feb 5, 2017 15:36:38 GMT
rookyone - just to let you know we haven't forgotten about you. I hope you are fully allocated by now, and would love to hear any comments you may have. Hi Steve, I am not going to be able to answer this question until next month, as on the 1st of this month I made another deposit to increase my 2% investment concentration. This, will somewhat skew my current figures. However, I have had 4 new investments since I made this new deposit, ranging from £80 to £220. Current stats are: No in Porfolio 77 BM have invested 47.8% of my funds This gives an invested return of 9.05% Current XIRR (all funds, invested and not invested) is 5.00% These figures will clearly improve as more investments are awarded during the 28 days to 'hopefully' be fully deployed.
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Post by rookyone on Feb 9, 2017 18:54:46 GMT
Week 1 of 4 increased funds update
Current stats are now
No in Porfolio 83
BM have invested 56.71% of my funds
This gives a BM calculated return of 9.38%
Current XIRR (all funds, invested and not invested) is 4.93%
Interesting to note that whilst the percentage funds invested has increased, with a subsequent increase in BM current return percent, the actual XIRR has decreased. This clearly has a relationship to the 43% of funds still to be invested, which is earning zero%...
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Post by rookyone on Feb 18, 2017 11:56:33 GMT
Week 2of 4 increased funds update
Current stats are now
No in Porfolio 89 (6 higher than last week)
BM have invested 75.88% of my funds (increase of approx' 20% on last week)
This gives a BM calculated return of 8.84% (down 0.54 on last week)
Current XIRR (all funds, invested and not invested) is 4.32% (down 0.61 on last week)
It's interesting to note that whilst the percentage funds invested has increased, there was a decrease in the BM current return percentage, this was due to the 6 new investments all being low return rates. The XIRR continues to decreased and remains very low at only 4.32% for my total invested sum.
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Post by rookyone on Feb 25, 2017 13:24:48 GMT
Week 3 of 4 increased funds update
Current stats are now
No in Porfolio 93 (only 4 higher than last week)
BM have invested 84.88% of my funds (increase of approx' 9% on last week)
This gives a BM calculated return of 8.9% (increase 0.06 on last week)
Current XIRR (all funds, invested and not invested) is 4.35% (increase 0.03 on last week)
Week three was somewhat disappointing, with only marginal gains. The XIRR continues to remain very low at 4.35% for my total invested sum.
Bondmason state on their website '7-28 days for funds to be fully deployed'. I'm not overly confident, but l'm looking to be presently surprised next week.
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