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On further inspection this definately looks like a re-allocation of #358 loan units from GEIA to MLIA and not any diversification process. I happened to have a MLIA buy order on 358 and sure enough it has bought some at the same time the GEIA sold. Never seen this happen before, most strange....

SteveT , don't you think overall downward market pressure on rates has more to do with this than the QAA/30Day? When you look at the "so-ca!led market leader in SME lending " FC right now with over £3 million of allegedly A+ loans available on the primary market all at 7.5% and that is only 6.5% to lenders after fees and before losses Unsecured! I was getting almost double that 18 months ago for A+/A loans on FC.

Personally I feel that FC fixed rates have done more to surpress SME lending rates across the market and, outside of niche market players, those that don't follow will have to either further increase risks to lenders or see their loan origination dry up. FC are so confident the lender market can tolerate these rates they have recently reduced them further so maybe the writing is on the wall for even  lower rates.

You are right, GBBA has been stuck for almost a month now. I have put over £1k in over the last few months and it was feeding quite well late October into early November, since then almost nothing.

WRT the 12 loans on the SM, #250, #317 and #348 are not eligible for the GBBA as they do not have property based security and all the others are at 7.5% or lower (mostly 7%) which is too low for the GBBA to pay 7% and fund the PF (I assume). Just waiting for GBBA/GEIA -Series 2 paying 6% or lower to be launched 

Maybe we should have an FC "Lost Property" thread where those who have "found" the odd £20 they don't own could help reunite it with those that have lost some

Personally I too have always subscribed to the invest in whole £100s or £1000s with FC so you always know what your balance should be, much easier than making sense of their transaction logs.

Yes unfortunately the GBBA/GEIA account diversification/re-balancing has not seen the light of day yet. Chris was AIUI testing a revised algorithm some months ago but with the obvious complexity around diversifying equitably across all the accounts and also stopping it getting itself into a shrapnelator style death-spiral I fear AC have perhaps not been able to direct the development resources at it to make it robust enough to release.

Perhaps a quicker way to make the GBBA/GEIA accounts more acceptable to those who feel uncomfortable with potentially up to 20% of what could be a fairly big chunk of money going into a few loans would be to have two parameters defined by each investor on each of their GBBA/GEIA accounts to govern the maximum percentage and the maximum amount in GBP that can be allocated to any one loan (within sensible limits set by AC, e.g. 5-20% and £100 to £5000 per loan). The obvious effect of these would be the lower these values are set the slower the potential investment speed but the greater the diversification and conversely the higher the values are set the faster the potential investment speed but with less diversification achieved.

Surely this would be significantly simpler to achieve from a programming point of view and it then allows each GBBA/GEIA investor to use these accounts in a way that fits their individual investment strategy.

I personally dis-invested a fairly big 5-figure holding in the GBBA as I was just not comfortable with almost 80% of it being held in only 4 loans. Since then I have slowly added money back in to try and create a more diversified GBBA portfolio which I have managed to some degree. Apart from the diversification issue I really like the whole GBBA/GEIA account approach and with a degree of user control on individual loan exposure I would use it much more extensively.

chris , any chance you could look at an approach like this on the GBBA/GEIA any time soon?

Perhaps we should have a poll on who would use the GBBA/GEIA more if they could control their individual loan exposure in this manner, never done one before so maybe this is my opportunity to try!

Or should that be Zilliams and Glopa

So....... 36 hours  later and it looks like £41.90 each on #356 was the lot for MLIA investors  Based on around £850k of loans drawn down that makes 1/20,000th of the windmill loans available to each MLIA investor!

Just as well Chris built ACs system to cope with 40 decimal places as MLIA investors might be needing all those places to get anything if the size of loan allocations get any smaller.


Heres hoping that these 3 loans have exhausted most of the GEIA backlog and we get more of the next 6 mindmills.......when they draw down..... one today and five for Friday is latest estimate.