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Post by elephantrosie on Jun 29, 2017 22:08:48 GMT
Invested a small amount of money on it and then never visited the platform again because I do not find the platform very user-friendly to me. Anyways, logged in today and found that I have been paid interest on my investment. Do we not get email notifications every time we get paid interest?
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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: 11,330 
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Post by ilmoro on Jun 29, 2017 23:46:28 GMT
Invested a small amount of money on it and then never visited the platform again because I do not find the platform very user-friendly to me. Anyways, logged in today and found that I have been paid interest on my investment. Do we not get email notifications every time we get paid interest? No, its just paid or not as the case may be. Unless its the QAA or 30DAA, which pay 1st of month, anyone with a diversified holding would be getting emails daily, often in multiples.
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Post by elephantrosie on Jun 30, 2017 0:45:45 GMT
thanks.
i see AC has higher default rates than others. does AC do any DD prior to offering loans to borrowers?
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Post by df on Jun 30, 2017 3:03:29 GMT
thanks. i see AC has higher default rates than others. does AC do any DD prior to offering loans to borrowers? Yes they do and the documents they provide for lenders to read prior to making investment decisions are far more thorough than others. Loan information and monitoring are transparent and consistent. Default rates are rather low within p2p industry and AC has good recovery history.
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Post by stuartassetzcapital on Jun 30, 2017 13:12:47 GMT
I'm not sure that our default rates are truly higher than others and our loss rates are very modest indeed - please see the defaults web page for more detail. In summary we are very fast to clock a default and report it to lenders to, for example, ensure lenders don't invest in something that we know has a credit issue but we never told anyone. By being fast we therefore have more visbly defaulted loans whereas some platforms (I will let someone else name them) only report a default when for example the loan is 180 days late being repaid which frankly isn't very fair to lenders in our view. We're a crack credit team and most of our 80+ team have worked their whole careers in credit and lending.
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Post by james1100 on Jul 14, 2017 19:00:54 GMT
I have invested some money in the QAA (and the Property Managed Fund too but not the subject of my question) and am a little confused that when I look at the loan breakdown a small but not insignificant amount has been put into a 'Trading Suspended' loan. I'm not a naive peer to peer lender but am very new to AC and dont understand why the magic machine would allow such a purchase. Can you enlighten and reassure me please
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am
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Post by am on Jul 14, 2017 19:22:57 GMT
I have invested some money in the QAA (and the Property Managed Fund too but not the subject of my question) and am a little confused that when I look at the loan breakdown a small but not insignificant amount has been put into a 'Trading Suspended' loan. I'm not a naive peer to peer lender but am very new to AC and dont understand why the magic machine would allow such a purchase. Can you enlighten and reassure me please Do you know when the purchase was made (in your account statement) and when trading was suspended (try the activities tag on the loan details)?
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Post by df on Jul 15, 2017 0:21:30 GMT
I have invested some money in the QAA (and the Property Managed Fund too but not the subject of my question) and am a little confused that when I look at the loan breakdown a small but not insignificant amount has been put into a 'Trading Suspended' loan. I'm not a naive peer to peer lender but am very new to AC and dont understand why the magic machine would allow such a purchase. Can you enlighten and reassure me please I would imagine it was put there before it became 'Trading Suspended'. But in any case, I don't think you will loose your money in QAA whatever the outcome of this loan might be.
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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: 11,330
Likes: 11,549
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Post by ilmoro on Jul 15, 2017 1:47:22 GMT
I have invested some money in the QAA (and the Property Managed Fund too but not the subject of my question) and am a little confused that when I look at the loan breakdown a small but not insignificant amount has been put into a 'Trading Suspended' loan. I'm not a naive peer to peer lender but am very new to AC and dont understand why the magic machine would allow such a purchase. Can you enlighten and reassure me please AIUI The QAA doesnt operate like a normal loan account investing in whatever loans are available at the time your money goes in. It is more like a stock market fund where you buy a chunk of the fund and get a corresponding percentage of all the loans it holds. Currently it hold chunks of all bar about 20 loans available on the platform (the missing ones are long term defaults prior to its launch) so everyone will have a holding in the suspended loans. If you took all the money out and put it back in you would end up with pretty much the same holding. The other element of the account is it holds a significant chunk of uninvested cash, at least 30% which provides the short term liquidity for the day to day cash flows in and out. So in normal operating conditions when you withdraw cash it comes from the cash element and your share of the loans it holds would be redistributed among remaining investors/sold where possible to rebalance the account loan/cash ratio. The issue would arise if everyone tried towithdraw at once which in theory would leave the slowest stuck and holding any loans that couldnt be sold to non QAA/30DAA lenders. In practice, in such circumstanes, AC would probably move to restrict funds being withdrawn.
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