nrw
Posts: 61 
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Post by nrw on Jun 2, 2017 12:42:20 GMT
Thanks for everyone's comments, accelerated learning much appreciated!
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Post by chris on Jun 2, 2017 14:02:38 GMT
Your GBBA loans are hidden in a seperate pool. The GBBA is designed to be black box and therefore for investors to not be concerned with what they hold. However, if you want to see what you have you need to look at the transaction statement for the GBBA and you can then download this to excel and then you need to add all the buys and sells for each loan to see you current holding. Unfortunately when you have had the GBBA for some years this can get quite tiresome but it is the only way. This is changing within the next few weeks (maybe next week but if we miss that then it'll be three weeks time due to holidays). You'll be able to see a summary of your investments in all of the accounts.
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Post by bracknellboy on Jun 2, 2017 14:03:45 GMT
nrw: Just in case you haven't twigged yet: you can also setup a 'sweep' of undeployed cash from any of the accounts to the QAA. This will help to mitigate the impact on returns of not being able to get the money invested as fast as you would like. So for example when the alg on your GBBA decides to buy it will simply draw the money out of the QAA (PROVIDED it is in the QAA as a result of being swept from the GBBA and not from a different 'pot').
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Post by gidoppp01 on Jun 7, 2017 15:20:05 GMT
I recently opened an AC account. I deposited £5k into the GBBA and £5k into the GEIA to dip my toe in the water. My funds started deploying extremely slowly, indicating that the marketplace enjoys surplus capital but not enough loans. ..... Can any experienced ACers confirm: - Why I can neither buy nor sell in these markets? - How long it's likely to take for my funds to be returned? - How long it's likely to take for the safeguard fund to pay out in the event that my dodgy £250 loan part turns sour? Appreciated! , liquidity in AC is actually pretty good. Funding Quick Access and 30-day access is instant; Funding speed in GGBA and GEIA varies. I got my 2k funded within 3 days earlier last month, but now it seems the funding speed is extremely slow for both of them. Selling loans in GGBA and GEIA is pretty quick, because they are new investors queuing up to invest, I sold my 2k withn 5 dAYS IN GGBA.
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nrw
Posts: 61
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Post by nrw on Jun 15, 2017 11:11:01 GMT
nrw , liquidity in AC is actually pretty good. Funding Quick Access and 30-day access is instant; Funding speed in GGBA and GEIA varies. I got my 2k funded within 3 days earlier last month, but now it seems the funding speed is extremely slow for both of them. Selling loans in GGBA and GEIA is pretty quick, because they are new investors queuing up to invest, I sold my 2k withn 5 dAYS IN GGBA. You got lucky, I got less lucky. I can't shift some of my loans as they turned sour within 48 hours of my lending  .
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Post by stuartassetzcapital on Jun 18, 2017 19:47:19 GMT
Hi nrw, the Access accounts are designed to seek to deliver the liquidity / access times described on each account in normal market conditions and in fact have always done this to date on over £200m of withdrawal requests. The GBBA and GEIA and now PSIA don't have any prioritised liquidity aims however if there are people trying to invest into those accounts it should let you out early very quickly in normal conditions. If a loan has been marked as having a credit event however then it may have paused being tradeable temporarily and that could then prevent the money being extractable from those three accounts quickly but thats the nature of peer to peer lending and in particular these longer term accounts - we deliver liquidity when we can and that is quite good most of the time but we don't design the system to prioritise that - that's what the Access Accounts are for and they pay a lower interest rate as part of the system design to create this liquidity. The MLIA offers no designed in liquidity enhancement nor any automated diversification and can offer the highest rates on the platform but for safety always assume you may be in the loan till full repayment if the secondary market slows down for whatever reason. I hope that this helps otherwise the lender desk on our main number will be pleased to assist. |
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nrw
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Post by nrw on Jun 19, 2017 20:43:35 GMT
Reply much appreciated Stuart.
Perhaps I was unlucky, but I was perturbed by the fact that within a couple of days of deploying my funds, a) the auto tools deployed in a highly concentrated / undiversified manner and b) loans immediately ran intro trouble. This spooked me.
I am not expecting liquidity - I'm a long term investor - however if loans are going to turn sour that quickly I need them to be better diversified.
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Post by stuartassetzcapital on Jun 20, 2017 8:17:50 GMT
We have some adjustments to that coming as a result of feedback and it has been noted and scheduled.
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Post by peerlessperil on Jun 20, 2017 9:22:18 GMT
There is a similar thread here which also goes into this in more detail - I explain here why I was unhappy with the GBBA and built a portfolio in the MLIA instead: p2pindependentforum.com/post/192308/threadHopefully AC can come up with a GBBA v2.0 that fixes some of the shortcomings, and it sounds like they are on the case. I personally am not a great fan of discretionary provision funds - I struggle to see how they can be applied such that all investors are treated equally as they favour holders of loans that default early, potentially leaving nothing for later claims. At least AC do seem to have applied some proper stress-testing, which is more than many other p2p platforms do. However, better to seek protection through diversifying properly, and 5 loans/20% is nowhere near what a fixed income fund manager would consider remotely diversified (think >100 exposures, even for investment grade corporate bonds). |
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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 Jun 20, 2017 11:13:26 GMT
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jfm
Member of DD Central
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Post by jfm on Jun 22, 2017 14:44:29 GMT
...The GBBA and GEIA and now PSIA don't have any prioritised liquidity aims however if there are people trying to invest into those accounts it should let you out early very quickly in normal conditions... Would the loan parts held not also be offered to MLIA bidders too?
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Post by chris on Jun 23, 2017 3:25:16 GMT
...The GBBA and GEIA and now PSIA don't have any prioritised liquidity aims however if there are people trying to invest into those accounts it should let you out early very quickly in normal conditions... Would the loan parts held not also be offered to MLIA bidders too? Yes, there is no differentiation or prioritisation between accounts within the marketplace.
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