XIRR computation for your P2P lending portfolio

Several P2P lending sites display the XIRR (extended internal rate of return) of your portfolio. However many of them don’t provide this information.

Here I will show you how to easily compute it yourself using Google Sheets. It will allow you to easily compare returns between your different P2P lending portfolios.

You could also use a spreadsheet program on your computer, but Google products give you access from anywhere, and you won’t lose data if your computer dies.

Theory behind XIRR computation

The XIRR answers a basic question : given a number of deposits / withdrawals and the current value of the portfolio, at which interest rate would I need to invest the deposits in order to reach the current value ?

Note that it doesn’t mention anything about the actual investments taking place in your portfolio. Indeed, it values an theoretical portfolio in a uniform way, which allows us to compare the returns from different portfolios just by knowing the deposits, withdrawals and current value.

Sample computation : Swaper XIRR

I’ll use my Swaper account as an example of XIRR computation.

Find the required data

Log on to your Swaper account. If you don’t have one, don’t worry; I’ll display the necessary data below.

Go to “Overview” -> “Account Statement”. First enter a “From Date” earlier than your first deposit. Under “Transaction Type”, select “Deposits” and “Withdrawals” then click “Search”.

In my case, it displays my initial deposit and three withdrawals.

Swaper deposits and withdrawals

The current value of your account can be found under the “Overview” -> “Summary” tab. As I’m writing this article it’s 517€.

Not that we have all necessary data, let’s move on to the dirty part !

Input the data on Google Sheets

The sample spreadsheet I created can be found at Google Sheets.

Go to Google Drive, create a new spreadsheet.

When inputing the data, we must follow some basic conventions. Deposits as well as the current portfolio value should be entered as negative values, while withdrawals should be positive.

On my spreadsheet I sorted the lines according to the date, but it’s not necessary for the computation to work. I only did so in order to enhance readability.

I inputted the date for the last line (current value) in a special way : instead of typing today’s date manually, I use the formula “=now()”.

On the next column, I finally entered the formula for the XIRR : “=XIRR(D2:D6;C2:C6)” where D2:D6 is the amounts range and C2:C6 the dates range.

Google Sheets XIRR Input

The XIRR is initially displayed as a decimal number. Select the cell and choose “Format” -> “Number” -> “Percent” to switch to a more user-friendly format.

Similarly, I also formated all dates using “Format” -> “Number” -> “Date”.

Here’s the resulting sheet : (ignore the rightmost part which we’ll use in a moment)

Note that the result differs slightly from the one computed on Swaper’s website : 11.32% on Google Sheets versus 12.09% on Swaper’s website.

Checking the result

We’ll check this result by using the definition of XIRR I provided earlier. We need to actualize each amount using the FV function, which computes the future value of an invested amount.

In a column at the right of the first amount, enter the following formula : “=FV($D$8/12, int((now() C2)/30), 0, D2)“.

The parameters are :

  • the interest rate; in this case I referenced the cell containing the XIRR computed by Google Sheets. Note that I escaped “D8” into “$D$8” so that it will be immutable when I copy this formula
  • the number of repayments : I divided the number of days between the date and today by 30, which once truncated is a rough estimate of the number of months elapsed since this date
  • the payment amount, which is 0 as we don’t withdraw or add money
  • the initial value

I then expanded this formula in order to compute it for all amounts, and added one cell containing the total. The sum of all future values is 520.58, close enough to the actual 517€. This small difference is in part due to the way we computed the number of months.

Compute future value of amount

Sum future values to check XIRR computation

Finding the required data on your P2P lending websites

Bondora

You have to generate a new report. This has the advantage of allowing you to copy-paste data from the generated report directly into Google sheets !

Grupeer

Use your account statement, under “Overview” -> “Account Statement”. Then search “balance” to find the deposits (I didn’t withdraw money from Grupeer so I’m unsure what the label for them is). You’ll have to input the data manually in Google Sheets.

Mintos

Under “Account Statement”, choose the proper start date. I had to select several payment types : “Deposits” and “Withdrawals” of course, but also “Currency exchange fee”, “Incoming currency exchange transaction” and “Outgoing currency exchange transaction”. This was necessary as I transferred some money from my Euro portfolio to my GEL portfolio and vice-versa.

Just like with Bondora, you  can download the result.

Omaraha

I didn’t find any way to get a detailed account statement. As a result I had to use my bank account statements instead !

Robo.Cash

Go to “Account statement”, and choose the right start date. The resulting statement is downloadable. Deposits are labeled as “Adding Funds”

DoFinance

Under the “Transactions” tab, you can choose to view either the deposits or the withdrawals.

Discrepancy with the “official” XIRR

As mentioned above, my computed XIRR for Swaper is lower than on the website. I’ll get in touch with them for an explanation.

Similarly, my result for Grupeer is 12.46%, which seems a bit weird as all the loans yield more than 13% and there’s been no default. This is because my Grupeer portfolio is made of few large investments, leading to only a few large repayments during each month. Between two repayments, the XIRR drops.

Most other portfolios contains much more loans, which allow the XIRR value to fluctuate smoothly during each month.

XIRR on alternative investments

P2P lending companies reviews

I used to quote the XIRR displayed by the website. I will update the articles in order to reflect the computed XIRR.

Monthly P2P portfolio review

In a similar way, the I will now use my own XIRR computation when displaying returns. This will allow to compare P2P lending companies more accurately.

Long-term investments and XIRR

Real-estate investments usually pay interests only once the project is completed. As a result, I’ll only display XIRR for BulkEstate and CrowdEstate once they’re meaningful.

In conclusion

Tracking XIRR monthly with this method is easy. It’s very easy to update it each month by taking into account the deposits and withdrawals, and updating the current value.

This will allow you to track your portfolio performance in a much better way !

 

 

Crypto20 ICO : investing in crypto-currencies

So, finally, Crypto20 ICO will be my entry point to the scary world of crypto-currencies.

I’ve been interested in this topic for a while, but never dared to start investing. There were several reasons to this : a lack of trust towards most platforms, the apparent complexity of crypto-currencies world, and finally the crazy rise of bitcoin which made me fear a large pullback.

Recently, my interest towards this topic was sparkled again by the announcement that the CME (Chicago mercantile exchange) would launch bitcoin futures. And today, a little out of the blue, I decided to get involved in Crypto20 ICO (Initial Coin Offering).

Although I already had an account at two exchanges (Kraken and Coinbase), the process was far from intuitive for the beginner I am. This post aims at summing up the different steps I took. But first, what is an ICO ? And what about Crypto20 ?

Initial Coin Offerings

Basically, an ICO is similar to an IPO (Initial Public Offering). It allows a startup to raise money (actually, crypto-currencies). The investors receive tokens; these tokens can later be traded at an exchange. After the ICO, no new token will emitted, so their value will fluctuate depending on supply and demand.

Note that unlike IPOs, ICOs are not regulated. Also if you’re a US citizen, you cannot legally invest in ICOs.

Crypto20 ICO

Crypto20 aims at creating a tokenized index fund of crypto-currencies.  It will incorporate the 20 crypto-currencies having the largest market cap, with a maximum weighting of 10%.

Note that there’s another upcoming ICO called Rhea Crypto20, which is totally unrelated as it aims at creating a derivatives market.

Investing process

I followed these 3 steps :

  • opening and funding a Coinbase account
  • creating a wallet
  • registering for the ICO

For my first investment I chose to send bitcoins to Crypto20. However, as you will see the fees were very high for my small invested amount. You may want to experiment with other crypto-currencies !

Opening a Coinbase account and funding it

I chose to fund my Coinbase account rather than my Kraken account as the company seems more trustworthy.

The process was rather simple, however the identity verification took a long time. Don’t expect your account to be up and running in a few minutes !

Wiring funds (Euros in my case) was extra simple, and they reached my Coinbase account the next day.

Buying crypto-currencies

They will be used to fund the ICO. This is an easy part : choose “Buy/Sell” on Coinbase, select the crypto-currency you want to buy. Then input an amount in fiat currency (Euro in my case) and validate after checking the amount and fees. Note that for my small amount, the fees are rather large for this transaction ! Fees for either Ethereum (ETH) or Litecoin (LTC) would be the same amount.

Exchanges other than Coinbase may have different transaction fees.

Buying BTC in Coinbase

Creating a wallet on MyEtherWallet

You’ll need a wallet to store the tokens issued by Crypto20. Actually you already have an exchange wallet, but it’s not a token compatible Ethereum wallet. I chose to use MyEtherWallet, which seems to be more or less universally recommended.

I expected to be asked for an e-mail address in order to identify me, but all you actually need is a password.

Wallet creation at MyEtherWallet

This password will actually be used to encrypt data stored in a file giving access to the wallet. This file can be downloaded from the next screen

DownloadKeystore file from MyEtherWallet

Save it in your computer ! You will need it to access your wallet again.

The next screen will display your private key, which you should print.

Finally, in the next screen, you can see your address (aka public key). You will need it during the Crypto20 registration.

How to view your wallet in MyEtherWallet

Use the “keystore / JSON file” option, select the file you downloaded, type the password you set at the very beginning and press “unlock”.

This will display the following screen :

Wallet info on MyEtherWallet

There you can  see your address again and your account balance. ICO tokens will also be displayed here.

I hope you survived this rather annoying part !

Registering for the Crypto20 ICO

The process is well documented and rather straightforward.

During the third and last step, you will have to input your public key public key (“receiving ethereum wallet”).

Sending the funds to Crypto20

This part is also easy. Go to step3 again on Crypto20’s website. The receiving address will be displayed for each crypto-currency.

Crypto20 investment address

Log in to your Coinbase account again, select “Accounts”. Choose the crypto-currency you bought earlier and click the “Send” button.

Send BTC through Coinbase

Fill in the address, the amount in either EURO or BTC (your can also use a “Max amount” for BTC), check the fees again, and validate. Please note that the fees depend on the network congestion.

At the time I took this screenshot the fees very rather insane : 5% for a transfer ? That’s not what I expect from a digital currency. I should have researched this earlier, as other crypto-currencies seem to have lower fees overall ! On the other hand, transfer fees for the same amount in Litecoin were only… 0.01€. Needless to say I strongly encourage you to use Litecoin in order to invest in ICOs ! Another Litecoin benefit is transaction speed : buying Litecoins then transferring them was much faster than with Bitcoin. I made yet another experience using Ethereum later, and transfer fees amounted to 0.17€, which is more than Litecoin but obviously still neglictible compared to Bitcoin’s huge costs.

Note that other ICOs may work slightly differently. Another ICO I invested in didn’t ask me for my wallet address, but directly used the address I used to send the crypto-currencies. In this case, as this address has to be a token compatible Ethereum wallet, I had to transfer the currencies to my MyEtherWallet first, then transfer them from MyEtherWallet to the ICO.

The whole process may seem a bit overwhelming the first time you invest; take your time and don’t hesitate to double-check everything twice. After investing in a few ICOs everything will seem much more logical and natural !

Check your token balance

Coinbase will send a notification once the transaction has been processed. You can then check your Crypto20 account. Note that even after receiving Coinbase’s notification, it may still take some time for your balance to be updated.

Crypto20 investment breakdown

Finally, you can also check that the resulting token appeared in your wallet. Once again, it may not appear immediately as Crypto20 sends them once a day (actually in my case it even took two days, so be patient !). Go to MyEtherWallet, select “View wallet info”, select your UTC/JSON file and enter your password. On the next screen, click on “Load tokens” under “Token Balances” at right of the screen. This will display your Crypto20 coin (listed as C20).

MyEtherWallet tokens

Adding a custom token on MyEtherWallet

Recently issued tokens may not be visible in MyEtherWallet’s list. Don’t panic ! In this example I’ll show you how to add the SGNL token (for Signal ICO)

Using another browser tab or window, go to ethplorer and enter the token name (SGNL in my case); a popup menu will appear and list the matching tokens. Select the right one; you’ll then be taken to a new page.

The relevant informations are located in the middle of the screen.

Token information on Ethplorer

Go back to Coinbase tab or window, click “Add custom token” and fill the required informations :

  • Token Contract Address : visible under “Contract information” / “Contract” on Ethplorer
  • Token Symbol : SGNL in my case
  • Decimals : visible under “Token xxx information” / “Decimals”

Click “Save”, and the resulting token will appear !

Congratulate yourself

Congratulation ! You’ve successfully invested in Crypto20 ICO.

Next steps

I’m planning to invest in other ICOs, the next one being CyberTrust which is scheduled to start next week. However, the global amount invested in ICOs will be very small compared to my overall portfolio.

Before doing so, I will do some additional research regarding transaction and transfer fees, as my bitcoin transactions have been very expensive ! I will probably invest using Ethereum or Litecoin in order to compare the fees with Bitcoin.

Links

Coinstaker provides an excellent introduction to ICOs

CryptoRated provides an ICO calendar and reviews

Last updated on January, 11th 2018.

 

 

P2P lending news for October 2017

Halloween is already gone ! This means that October is over. It’s been a quiet month for P2P lending, so this edition of P2P lending news will be rather short !

Legal entities can now invest in DoFinance

By expanding range of services, p2p platform (P2P) DoFinance is now available for investments from legal entities as well.(DoFinance newsletter)

That’s great for companies who want to invest in P2P, especially if they can get the 14% loyalty bonus. The required portfolio amount is 5000€ so it shouldn’t be a concern for most firms !

Record interest rate for GEL loans at Mintos

“For a limited time only, one of the world’s leading fintech companies, ID Finance, will be offering on Mintos an increased interest rate of 17.5% for their loans issued in Georgia. This great offer was announced during our webinar on October 19, 2017.” (Mintos newsletter)

While the interest rate itself is extremely high for secured loans, please take into consideration the exchange rate of Georgian Lari (GEL) against your own currency ! I used to have a GEL portfolio and ended up closing it because of the exchange rate evolution.

Alternative Investments is mentioned in DoFinance’s newsletter !

DoFinance is the easiest way to invest in P2P loans, the review of DoFinance on Alternative Investments concludes.” (DoFinance newsletter)

I was very surprised and of course very happy to see my blog mentioned !

Russian loans in Swaper

“We are glad to announce that following Denmark and Spain, Russia is the latest expansion of operations from Swaper’s parent company Wandoo Finance. Russian loans listed on the platform come at the standard 12% rate, range from 3-6 months, are BuyBack guaranteed and are available from today.” (Swaper newsletter)

This may finally be the end of Swaper’s loan volume troubles. Congratulations to them for finally solving this long-lasting concern !

New issuer in Romania for Mintos

“Romanian-issued Mozipo Group loans on the Mintos marketplace will range from EUR 22 to 3300, with a repayment period of up to five years. The average net annual return to investors is expected to range from 9 to 14%. Initially, the loan originator will list loans in euro; loans denominated in Romanian lei (RON) will be added to the Mintos marketplace soon.” (Mintos newsletter)

Mintos continues attracting new issuers, contributing to make it one of the most diversified p2p lending platforms available !

New Swedish issuer for Mintos

“The average Sweden-issued loan that Aasa will place on the Mintos marketplace will range from EUR 1 000 to EUR 2 000, with an average repayment period of 6 to 36 months. The loan originator will initially offer to invest in euro (EUR). Loans denominated in Swedish krona (SEK) will be added to the Mintos marketplace soon. The average net return to investors will range from 7 to 11%.” (Mintos newsletter)

I actually missed this one when writing this post, so I updated it

Mintos removes secondary market fees

“Starting from today, November 1, 2017, we have removed the 1% fee for selling loans on the secondary market of the Mintos marketplace.” (Mintos blog)

I never used their secondary market but it’s always good news to see platforms reducing or removing fees.

 

P2P lending portfolio review for October 2017

Overview of the past 2 months

So, first, I have to apologize for the lack of posts. I had time to write new reviews (for Investly and CrowdEstate), but I’ve been lagging behind on portfolio reviews and other topics. This is due to a large change in my personal life, which took a long time to prepare… More on this soon !

I moved quite a lot of funds around, mostly withdrawing them from ViaInvest and Twino. I used most of them to create new portfolios on Investly and Finbee.

Current performance

Omaraha

12 months XIRR is currently 25.8%, which while being excellent is one percent lower than 2 months ago (26.8%). This is mostly due to many defaults in my Slovakian portfolio : they reached a very high level of 5.5%, while this rate is only 0.7% in Estonia ! As a result I stopped investing in this Slovakia in order to focus on Estonia. I may even decrease my Omaraha portfolio size a bit, as there is always a little bit of idle funds there. My portfolio size at Omaraha is around 57% of my total P2P assets; this percent decreased because I added more funds in other websites.

Bondora

XIRR for Bondora‘s portolio was 17.61%, down from 18.18%. I still didn’t test the “portfolio pro” feature but I really should do so in an attempt to boost my returns ! Bondora accounts for 18% of my overall portfolio, and I don’t plan to grow it.

Grupeer

All my recent investments there have been in loans offering a 14% interest rate, sometimes even 15% for loans from Russia. My XIRR should thus now exceed 14%. I increased my portfolio size there and may add even more funds later. Currently a bit more than 7% of my funds are invested at Grupeer.

Mintos

XIRR for Mintos was 12.19% for secured loans in Euro, stable from 2 months ago. I closed my GEL (Georgia Lari) portfolio; it was performing very well (16.75% interest rate) but the exchange rate variations cancelled most of these gains. I reinvested this amount in secured Euro loans, which now offer nearly 14% for long durations; that’s a great offer !

Swaper

XIRR of my Swaper portfolio was a bit higher than previously, at 12.06% against 11.77%. This is due to more loans being available, greatly reducing idle funds. It’s nice to see that Swaper finally has a large loans volume available !

ViaInvest

I closed out this portfolio. This was a bit painful to do as I had to trigger a manual buyback for each delayed loan !

Twino

Another portfolio reduced to zero. Many investor seem to be leaving this platform (see for example Kristi’s post) which is a bit concerning for their future.

Robo.cash

They don’t display an XIRR. My funds are invested in 14% loans, which is great, however there are often around 10-15% idle funds.

Other companies

My Monestro portfolio is still too young for me to publish returns, as are my Investly portfolio and my very new FinBee portfolio. Regarding real estate crowdfunding (CrowdEstate and BulkEstate), they’re long-term investments that will only pay interests once the project is completed, so I won’t post any performance results until next year at best !

XIRR evolution

P2P platforms returns for October 2017

Current allocation

The disappearance of Twino and ViaInvest is compensated by the creation of new portfolios. Overall the largest allocations (Omaraha and Bondora) decreased in percent, as I grew several smaller accounts (mostly Grupeer and Robo.Cash).

P2P allocation for October 2017

New platforms

As I mentioned, I opened accounts with Investly and Finbee. Reviewing Finbee will take a while as the platform is very rich. Luckily this doesn’t seem to come with a large complexity.

I actually have great expectations for FinBee; if this platform performs well I may move some funds from Omaraha there, in order to enhance my P2p portfolio diversification.

 

 

Website updates – 2017/10/08

New P2P lending websites reviews

I invested some funds in both BulkEstate and Robo.cash last month. The reviews are online, and the comparison page has been updated accordingly. The next review should be CrowdEstate, which looks rather promising !

P2P lending news for September

In case you missed it, I posted the monthly review of P2P lending news for the past month.

New article

I wrote a new article comparing P2P lending and mutual funds. It’s still a work in progress as there’s a lot to be said; for example, I don’t mention tax issues at all for now.

Misc changes

I updated Swaper review in order to reflect the (somehow) improved liquidity. I also improved Omaraha review in order to make it more helpful for people struggling with the very peculiar ergonomics of their website.

 

P2P lending news for September 2017

September is almost gone… Here are the news I gathered from various sources regarding the websites I use for P2P lending.

Swaper interface improvements

“We are planning to move towards combining Portfolio investment tool with Auto-Invest tool into one – Auto-Invest Portfolio. The improved feature will cater to both types of investors – those looking to specify their own criteria for investing and to those looking for a one-click investing experience without adjusting many details” (Swaper newletter)

That’s a welcome change, and will make their user interface even easier to use ! As of this writing, the change hasn’t been pushed in production yet.

Swaper auto-invest change

“Currently, when creating Auto-Invest schemes investors are able to specify ‘investment in one loan’, i.e. how much will be invested into a single available loan. This will be replaced with ‘max investment per loan’. (…) This change also means you do not need a lot of Auto-Invests to ensure your money gets invested. With one active Auto-Invest your money is just as likely to be invested as with ten (assuming same selection criteria).” (Swaper newletter)

Yet another important improvement. With the improved loan volume, will this be the end of the troubles with Swaper ? Time will tell !

Swaper loyalty bonus changes

“We have rolled out the planned changes to our Loyalty Bonus. As announced last month, to obtain the +2% bonus to your investments your account value needs to be 5000 EUR (or equivalent in GBP or PLN) or higher for three consecutive months. Similarly, if your total account value drops below 5000 EUR (due to withdrawals) for three consecutive months the bonus is revoked.” (Swaper newletter)

New Bondora feature : “Remove loans from sale when borrowers make payments”

“This week we introduced a new feature which allows you to remove your investments from sales when a borrower makes a payment. (…) Once you activate the feature, you can be confident that you’re selling loans on the assumption of up-to-date payment information. If any payment is made, the loan will automatically be re-evaluated and cancelled from the Secondary Market sales.” (Bondora blog)

New Russian originator for Twino

“We have increased the Russian loan supply by adding our second originator. Already more than EUR 1.5 million have been funded during this time.” (Twino newsletter)

Note that this actually took place in August but was only announced in September

New issuer in Bulgaria for Mintos

“The personal loans Cash Credit is set to offer investors on the Mintos marketplace will range from EUR 100 to EUR 1 000, with a repayment period of up to 18 months. The average net annual return to investors will range from 10 to 12%.” (Mintos newsletter)

It’s time to update your auto-invest yet again 🙂

 

Week-end website updates

I hope you all enjoyed the week-end (a long week-end for those in the USA, lucky you !)

For me it was a studious week-end, as I spent a lot of time working on this blog. Here are the resulting changes :

P2P lending

I published several articles and posts :

  • the P2P lending news for August
  • the review of my P2P portfolio for the past month
  • a detailed review of DoFinance, which has a rather innovative offer, making investing in P2P loans an extra-easy experience
  • a comparison of the current P2P lending offers, with a handy table summing up the current offers and conditions. Give it a try !

I also updated the articles about ViaInvest and Grupeer to reflect the changes since I wrote them.

Collective2

I didn’t yet publish anything new since the introduction to the new dashboard, as I’m in the process of updating the existing articles. Indeed, there has been a price change in their auto-trading offers, and it left me extremely unsatisfied !

 

P2P lending portfolio review for August 2017

Overview of the past month

As mentioned last month, I opened an account with Monestro and DoFinance. My Monestro portfolio is currently very small as there aren’t many loans available. Situation with DoFinance is different, as the offer is much simpler; the whole amount was immediately invested for 6 months, with a 12% interest rate. As a result, I’m about to publish a detailed review of DoFinance.

I’m still in the process of withdrawing funds from both ViaInvest and Twino; I’ll use these funds to increase the size in Grupeer.

Current performance

Omaraha

12 months XIRR at the end of July was 26.8, down from 27.6% last month. Details by country are : Estonia 26.9% (down from 27.5%), Slovakia 25.3% (down from 30.7%), Finland 30.9% (down from 34.9%). I will probably simplify my portfolio management by focusing only in Estonian loans. The default rate is a bit lower than last month (0.6% against 0.7%), which is a very reasonable level.

I has to slightly increase my loan size to 30€ in order to invest all my remaining funds. My portfolio now has reached my target size and shouldn’t increase, excepted of course from the interests paid.

Bondora

XIRR for Bondora‘s portolio was 18.18%, stable from last month. I still didn’t test the “portfolio pro” feature; lazy me !

Grupeer

Grupeer still doesn’t provide a XIRR computation but all my loans offer 13% or 14% interest rates. I also enjoyed some nice cashback (1% or more) which will boost my returns. There are now Russian loans offering a 15% interest rate, which will be my next investments.

Mintos

XIRR for Mintos was 12.17% for secured loans in Euro and 16.75% for Lari (Georgia), absolutely stable. There are now some guaranteed loans offering a 13% interest rate; they’re likely to increase my returns a bit. Note that I’m in the process of slashing my GEL portfolio, which (as forecasted) suffered from the EUR/GEL exchange rate.

Swaper

XIRR of my Swaper portfolio was stable at 11.77%. There were still times where all my portfolio wasn’t invested, but the situation seems to be improving !

ViaInvest

XIRR is still displayed as 12.74%. As mentioned above, I’m starting to withdraw all my funds as all new loans only offer a 10% interest rate, not counting the tax withholding. I prefer to invest for a bit longer and get a much better return !

Twino

XIRR is 10.14%; I have less than 100€ left there so it will disappear in September’s edition of this review !

XIRR evolution

I already removed Twino and ViaInvest to make the following graph more readable

Current allocation

My allocation probably won’t change much in the coming months.

New platforms

The next 2 months will be rather busy for me so I may not have much time to research new P2P lending platforms; moreover I don’t have much cash left to invest in them 🙂

 

 

 

P2P lending news for August 2017

Yet another month is over… I updated ViaInvest review in order to reflect the lowered interest rate currently offered.

Here are the news I gathered regarding P2P lending :

More Russian loans for Twino

“We are excited to announce that starting from this week you will see a significant boost in our Russian loan volumes. (…) These are short-term loans with maturity of 1 – 2 months, BuyBack Guarantee and interest rate of 10-11% per annum.” (Twino newsletter)

More loans for Swaper (finally !)

 “Demand for investments on our platform has for some time now been higher than the amount of loans available. We recognize that this leads to cases where some investors are left with money sitting idle on their Swaper accounts. Currently, we are putting around 2 million euros worth of new loans up for investment every month, which is about a 100% increase from where we were at the beginning of the year.” (Swaper newsletter)

Mintos adds loan in Romania and Bulgaria

The following excerpt is valid for both countries :
“The new loans Mogo will place on the Mintos marketplace will range from EUR 500 to EUR 10 000, with a repayment period of up to 72 months. The average net annual return to investors will range from 8 to 14%. Loans with and without the buyback guarantee will be offered.” (Mintos newsletter)

New originator in Latvia for Mintos

“The Mintos marketplace now features consumer loans issued in Latvia by MoneyMetro. (…) MoneyMetro loans placed on the Mintos marketplace will average EUR 400 and have a repayment term of 12 months. The annual net return to investors is expected to reach 11.5%. The loans will be supplemented with a buyback guarantee covering loans delinquent for more than 60 days.” (Mintos newsletter)

African loans in Mintos

“The average Botswana-issued loan GetBucks will place on the Mintos marketplace is EUR 250, with a repayment period of 30 days. The average annual net return to investors will reach 11%. GetBucks will provide a buyback guarantee for loans that are delinquent for more than 60 days” (Mintos newsletter)

Russian loans on Grupeer

“Each loan is issued based on a separate agreement for a period of 2 to 3 months. Loan currency is euro. The interest rate offered to investors is 15% per annum.(…) To secure your investments, Grupeer Platform has applied the following measures: BuyBack guarantee in case of payments delay for more than 15 days.” (Grupeer newsletter)

Grupeer : 1.5% cashback  on development loan

I found out that new investments in the currently listed development loan, offering 13% interest rate, will get 1.5% cashback. This offer is good until September 30th, 2017. (Grupeer website)

New Georgian originator for Mintos

“The average Georgia-issued loan ID Finance will place on the Mintos marketplace will be EUR 1000, with a repayment period of up to 12 months. (…) The annual net return offered to investors will reach 16%. The loan originator will offer a buyback guarantee for loans that are delinquent for more than 60 days. In July 2017, the share of non-performing Solva loans was 4%.” (Mintos newsletter)

New originator for Mintos in Czech Republic

“Czech Republic-issued Creditstar loans on the Mintos marketplace will range from CZK 1 000 to CZK 19 000, with a repayment period of up to three months. The average net annual return to investors will reach 12%.
Creditstar will offer a buyback guarantee for loans that are delinquent for more than 60 days.” (Mintos newsletter)

 

Collective2 new dashboard

After a period of beta-testing, Collective2 new dashboard is finally here. Changes have been discussed in the forum, and users had the opportunity to test it.

The interface is different for investors and trade leaders, which helps to de-clutter the left menu. Here I’ll focus on the investors’s side of Collective2 new dashboard.

Portfolio view

This view at the center of the screen hosts three tabs : one for simulation, another one for live trading, and a third one for the subscriptions you don’t currently trade.

Collective2 new dashboard : portfolio view

“Simulation” tab

My biggest disappointment with Collective2 new dashboard is the disappearance of the free trials. They’re getting phased out; instead you can add strategies to the simulated account, and see how your equity curve would have evolved.

For me, this causes a huge loss of information compared to free trials. Indeed, unlike simulation account, they allowed you to receive the real-time trade signals. You could quickly realize the quality (or lack of) risk management by watching the stops in place, and assert the risk/reward thanks to the profit-taking orders. This information is unavailable when you simulate a strategy, so you actually have to subscribe in order to assert this crucial element. That’s a huge step backwards and I hope the free trials will come back !

“Live trading” tab

Here you can see your equity curve, which is rather handy. Below the curve, you have again 3 tabs :

  • “Summary view” (displayed in the screenshot above) is an overview of the strategies you trade in your live account. It displays the daily PNL and what is supposedly the all-time change percent. The wheel on the right allows you to change auto-trade settings, or message the trade leader. One handy feature is the “Sync” icon, indicating whether your account is currently in sync with the strategy. Clicking on a strategy will show you the PNL of the strategy model, and display a handy vertical bar when you subscribed to it (usually right before a large drawdown 🙂 ).
  • “Show all positions” displays open positions, for either the model, your live account, or both

Collective2 new dashboard : open positions

  • “Show recent signals” is very handy, and having a separate tab for them helps having a more readable strategies overview

Collective2 signals

“Subscribed” tab

If you subscribed to strategies you don’t currently trade, they’ll appear here. You can choose to either leave them off, simulate them, or trade them live.

Collective2 subscriptions not traded

Right bar of Collective2 new dashboard

If you’ve selected the simulated or live account, you’ll see the current portfolio allocation, broken down by asset class; you can then drill down to the instrument level.

Collective2 new dashboard top holdings

Below is the “Activity feed”, which is unfortunately not configurable for now. Several kinds of notifications will appear here, with various degrees of relevance. For example, notifications appear when a strategy you’ve subscribed modifies its position, but also when another investor subscribes to a strategy. I tend to find the later notification absolutely useless !

Collective2 new dashboard activity feed

Finally, the bottom display the “Top movers”, showing you the top gainers and top losers for the day.

Collective2 new dashboard top movers

Note that if you don’t use this sidebar often, you can use the arrow at the top of the screen to collapse it. The same goes for the left menu bar.

Wrapping it up : my thoughts on Collective2 new dashboard

We now have a better-looking dashboard but with a crucial feature missing.

The homepage is now more appealing visually than the previous one, but I deeply regret the disappearance of free trials. I actually can’t understand why their removal, which is a business decision, was linked to the new dashboard release, which is mostly cosmetic. On the positive side, I like the fact that the signals and open positions have their own tab, making things more readable. Displaying the equity curve is nice, too.

 

After the release of the new dashboard, next step for Collective2’s is apparently the auto-trade PNL screen. It currently has very limited features, only offering the total PNL by strategy from the day you started trading them. It would be great to be able to have a monthly breakdown !