P2P lending portfolio review for January 2018

Overview of the month

The first month of 2018 looked suspiciously like the last month of 2017 ! I once again added money to CrowdEstate and BulkEstate. Returns were overall equivalent to last month, the exception being once again Bondora.

Current performance

Omaraha

Omaraha is currently suffering from a large cash drag. It’s very hard to have money invested, and I actually increased the amount of “bonus” I give back to the side in order to have a higher priority. In spite of this, there’s more and more idle cash on my account.

Computed XIRR is 20.86%, which is roughly the same as last month’s 20.96%. It’s still by far the best performing part of my portfolio.

Bondora

Once again, Bondora’s returns decreased. They stand at 15.14%, well below the value for last month, which was 15.86%. The recovery isn’t improving, in spite of reassuring communication from Bondora. Like many Bondora investors, I’m tempted to cut down the size of my portfolio, but I’m afraid it will lower results even further…

Grupeer

Month after month, Grupeer delivers very consistent returns. The 1% cashback offer allowed me to boost my returns again; this portfolio’s XIRR was 14.63% for January, slightly higher than December’s 14.49%.

Mintos

Just like Grupeer, Mintos performs extremely well. The XIRR was slightly up, at 12.63% versus 12.54% for the previous month. There are several campaigns that allow you to get cashback; you currently can get as much as 5% cashback when investing in Mogo’s long-term loans ! These offers are a great way to increase your returns.

Swaper

The XIRR is currently 11.83%, which is okay for loans offering a 12% interest rate. It increased greatly from last month’s 11.66%; it looks like the cash drag is over for now, as returns have been increasing for several months in a row.

Robo.cash

Robo.cash is another site that suffered from a long cash drag several months ago. Just like Swaper, they now seem to have enough loans available for everyone to invest in, and the returns are in an uptrend. December’s XIRR was 10.59%, and it increased to 11.19% in January. While still not an optimal value – the loans are supposed to yield 14% -, it’s a great improvement from the past values.

Other companies

Once again, I don’t compute XIRR for several companies : Investly, Finbee, Monestro, CrowdEstate and BulkEstate. I keep on adding money to the two latter companies, as they have very interesting offers coming in regularly.

Aggregate portfolio XIRR

I compute this value by taking the average of the XIRR for each portfolio, weighted by the portfolio’s size. The value for January was very similar to last month : 17.95% versus 17.99% for December. Overall it’s still an excellent value… I can only wish Bondora would stop bringing it down 🙁

XIRR evolution

Value from December onwards were all computed by myself, leading to more precise value and easier comparison. There’s little change between January’s results and the previous month.

P2P Lending companies returns

Current allocation

I once again added funds to CrowdEstate and BulkEstate. The evolution of the other portfolios’ relative size is due to the received interests.

P2P lending companies allocations for Jaunary 2018

New platforms

I had a look at EstateGuru, but current returns seem much lower than CrowEstate of BulkEstate. I’m currently performing some due diligence on Crowdestor, which seems like a worthy competitor for these two websites; however the investors base seems to be very small.

 

 

 

P2P lending portfolio review for December 2017

First of all, I wish all readers of Alternative Investments a happy new year !

Overview of the month

The only change to my P2P lending portfolio allocation in December was a size increase for CrowdEstate and BulkEstate.

Returns for most sites are stable or higher than last month, with the notable exception of Bondora.

Current performance

Omaraha

I’m still using Omaraha’s “bonus” feature in order to invest all my funds. The forecasted cost of this feature is a bit more than one euro per month, so I consider it’s worth using it in order to prevent cash drags ! As I mentioned last month, all my new investments are in Estonia; I stopped investing in Slovakia and Finland due to the high default rate.

Computed XIRR is 20.96%, slightly down from last month’s 21.11%. Once again it’s an excellent return !

Bondora

Bondora‘s performance is – again – rather concerning. XIRR for this portolio is 15.86%, much below last month’s 16.73%. I still didn’t decrease the portfolio’s size, as I’m waiting to see whether recovered amounts increase.

Grupeer

In December I invested in many loans offering an additional 1% cashback, which boosted the returns of loans offering an already nice 14% interest rate. As a result, the computed XIRR is a whooping 14.49%, nearly one more point than last month’s XIRR of 13.48%. I really appreciate Grupeer more and more, and if I ever decreased Bondora’s portfolio, I’d invest most funds in Grupeer.

Mintos

I set my auto-invest profile to invest in loans with interest rates of at least 13.5%; there are many of them for long durations so liquidity isn’t a concern. I also got a small bonus for investing in long term loans in December. Compared to a few months ago, Mintos’s loans offer a greater interest rate, so the XIRR keeps on increasing : for December it was 12.54%, versus 12.35% last month.

Swaper

The XIRR value is more or less in line with the expected value for loans offering a 12% interest rate. Last month’s value was 11.36% (after a long period of cash drag), and for December it has improved to 12.54%.

Robo.cash

Last month’s XIRR was a very low 9%, partly because of the lack of loans to invest in. In December the loans volume has greatly improved, and the XIRR is now 10.59%. While it’s still very low – especially for a platform where you invest in loans with 14% interest rate -, I expect the XIRR to improve over time.

Other companies

Like the previous months, I don’t compute XIRR for several companies : Investly, Finbee, Monestro, CrowdEstate and BulkEstate.

Aggregate portfolio XIRR

This is simply the average of the XIRR for each company, weighted by the portfolio’s size. I didn’t compute it previously and was pleasantly surprised by the result : 17.99% ! The high weight of Omaraha explains this great result.

XIRR evolution

Values from October and earlier were estimated or taken from the statistics computed by the P2P company. After November, all values are manually computed.

P2P lending companies returns for December 2017

Current allocation

I only added funds to CrowdEstate and BulkEstate. Portfolios for other companies only grew with the received interests.

P2P lending companies allocations for December 2017

New platforms

I spent some time improving the current reviews in order to reflect platforms improvements : for example Mintos‘ “Loans issuers diversification” feature, or Omaraha‘s more friendly configuration of investments profile. Several reviews are still currently being written, but I must admit I’m not satisfied with them yet.

Maybe I’ll have a look at EstateGuru this month, as it seems like a great way to invest in real-estate, in spite of rather low interest rates.

 

 

P2P lending portfolio review for November 2017

Overview of the month

Not much has changed on my P2P lending portfolio this month. I moved some funds out of Omaraha and into CrowdEstate and mostly Finbee. I’m still writing the review for the latter, which takes time as the website offers many features.

The most important change is that I’m now tracking my portfolio more closely. I computed the XIRR for all my P2P investments and will display this one instead of relying on the value computed by the P2P lending company.

Current performance

Omaraha

I withdrew a small sum (around 1%) as I had a lot of funds not invested. Later in the month, I resorted to use Omaraha’s “bonus” feature. It gives me priority when auto-investing, the cost being some percent of the interests I give back to the platform. Since I started using this technique, all my funds are invested. The effect of the bonus on my returns remains to be seen.

My portfolio at Omaraha now only contains loans from Estonia.

Computed XIRR is 21.11%; while much below the platform’s estimation, it’s an excellent return.

Bondora

XIRR for Bondora‘s portolio is 16.73%. The returns there seem to be slowly diminishing,  so I’m considering lowering this portfolio’s size a bit.

Grupeer

I can finally compute a XIRR 🙂 The result is 13.46%; however as I mentioned in my article regarding XIRR, the fact that I have few large loans tends to under-estimate this platform’s XIRR between two repayment dates. I was unable to invest in any 15% loan recently, so all my recent loans yield 14%.

Mintos

There are still many loans offering 14%, so my XIRR is slowly increasing. My computed value is  12.35%, in line with the platform’s estimation.

Swaper

My result for Swaper’s XIRR is 11.47%; the value is less than expected for loans yielding 12% because of the past cash drag.

Robo.cash

If I consider my account value strictly, my XIRR is a deceiving 9%. Indeed, the accrued interest for many loans didn’t get paid yet, so this reduces the returns. If I include the accrued interest, the value would be closer to 12%. However I’ll use the former value instead, as this difference should disappear as time goes by.

Other companies

There are many platforms for which I don’t display returns yet. The first reason us because my portfolio is too recent (Investly, Finbee) or too small (Monestro). Real-estate crowdfunding will take a while too (CrowdEstate and BulkEstate)

XIRR evolution

The switch from the values displayed by the websites to my own computations creates a drop for this month. However the relative order is preserved.

P2P leending companies's XIRR for November 2017

Current allocation

Finbee and CrowdEstate grew a bit, while Omaraha shrunk slightly.

P2P lending allocation for November 2017

 

New platforms

I actually have no plan to open accounts in a new P2P lending platform, but of course this can change it one sparkles my interest ! I want to spend some time improving the reviews, and updating for example Swaper‘s one in order to include the recent interface changes. Moreover I still have to test Bondora’s “Portfolio Pro” feature.

See you next month !

 

 

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.

 

 

P2P lending portfolio review for July, 2017

Month overview

Unlike my Collective2 portfolio, my P2P lending portfolio’s life was rather uneventful this month (and I don’t complain about it 🙂 ).

I added some more funds to Omaraha and I’m nearly reaching my target portfolio size. I still have to decrease ViaInvest size, but I’m waiting for the principal to be reimbursed.

Current performance

Omaraha

XIRR at the end of July was 27.6%. Details by country are : Estonia 27.5%, Slovakia 30.7%, Finland 34.9% (very new and small).

I’m starting to see more defaults, but currently their rate (0.7%) mirrors the overall default rate for comparable loans.

I’m still planning to increase my portfolio size a bit, although I have troubles investing it all with a relatively small loan size (20€). I also probably should spend some time studying my statistics by country more closely (XIRR versus default rate) in order to have a better allocation between Estonia and Slovakia. Unfortunately Omaraha doesn’t provide the statistics as CSV files, so it will be a painful task !

Bondora

XIRR for Bondora‘s portolio was 18.07%. I invested a lot in poorly-rated loans with high interest and of course many defaulted, so I’m curious to see what the recovery rates will be like.

I may start playing with the “Portfolio pro” feature in order to increase my returns.

Grupeer

Grupeer doesn’t provide a XIRR computation but all my loans offer 13% or 14% interest rates.

Mintos

XIRR for Mintos was 12.18% for secured loans in Euro and 16.76% for Lari (Georgia). Unfortunately for now, the poor exchange rate totally negates this XIRR difference.

Swaper

XIRR of my Swaper portfolio was 11.84%. I’d love to increase my portfolio size a bit, but until recently this P2P lending site had troubles investing the whole amount, so I’m not totally sure about this.

ViaInvest

XIRR reached 12.74%, which is surprisingly high. However, it looks like all new loans only offer a 10% interest rate. I may thus decrease my portfolio size even more and split this money between Grupeer and Swaper.

Twino

XIRR is 10.23%; I’m in the process of moving all my funds out of Twino as the low returns doesn’t justify keeping an account there.

Current allocation

I’m probably over-invested in Omaraha, but paradoxically I’m still planning to increase its portfolio size a bit.

Once I reach my target size, my Grupeer portfolio should be my next target for growth.

Current allocation between P2P lending websites

New platforms

I’m always looking for new opportunities to diversify my portfolio.

After some due diligence, I may invest a starting amount in Monestro. Loans volume is low and the usability is, let’s say, perfectible, but it seems promising.