Invesco Perpetual has sold GBP9.6 million ($12.45 million) worth of shares in the Ranger Direct Lending Fund, reducing its stake to 27.9%; the GBP243 million ($315 million) Fund has been struggling in 2017; it primarily invests across the private debt landscape with a focus on private direct lenders; however its losses have been related to its exposure to troubled lending platform Argon Credit which it had invested in indirectly through the Princeton Alternative Fund; in February 2017 it reported a significant impairment charge for the investment and its value has been decreasing. Source
New research from Equifax Touchstone shows that automated investment has become a wider trend in P2P and wealth management; 82% of 141 surveyed investment advisors said they have a consistent approach to allocation and monitoring for clients; P2P platforms like Funding Circle recently removed self selection and instituted an autobid process for investors; John Driscoll, director at Equifax Touchstone, tells AltFi, "This approach helps strike the right balance between risk and return, particularly important in a world of increased market volatility."; according to Driscoll the FCA has been a main driver of this trend to ensure risk is maintained correctly for investors. Source
Peer-to-peer loan investing is growing as an investment category and capturing a greater share of the loan market from banks; as interest rates remain low across the globe and in the US, it continues to be a viable alternative to fixed income investing; Simon Moore discusses some of the current considerations for investing in P2P loans including availability, default risks, lending standards, interest rates, liquidity and tax efficiency. Source
A number of new smartphone apps are now available with varying methods for inspiring consumers to save; apps such as Stash, Acorns, Digit, Qapital and Long Game are making it simpler and easier to make incremental savings deposits and investments through automated technology; with these new apps, investors can automate the investment of unused cash and round up purchases, saving extra pennies. Source
Bpifrance has invested in a co-financing fund managed by the Lendix platform; the investment from Bpifrance brings the fund's investments to EUR90 million; the fund invests in loans for French and European companies borrowing on the Lendix platform. Source
Bank of America Merrill Lynch announced it has partnered with fintech firm CellTrust for messaging to clients; the new service will be focused on client to advisor text messages; the partnership will allow the bank to catalogue all communication with time and date stamps, tracking and logging activity; they plan to launch the new program over the next two months. Source.
The SME Loan Fund has a new fund manager, SQN Capital Management, and is changing its name to the SQN Secured Income Fund; it is planning to issue up to 250 million new shares to increase assets under management and improve liquidity; it will continue to invest in loans from origination platforms and finance companies however its investment policy will divert from investing in GLI Finance affiliated platforms and will now focus its investments primarily on a range of secured wholesale loans. Source
California mortgage lender Opes Advisors is using proprietary software technology to help clients think more holistically about how buying a home fits into their financial plans; the company originates approximately $3 billion in mortgage loans per year and has built technology software that advises clients on comprehensive financial planning; also offering wealth management, the company provides comprehensive advisory services that are unique in the mortgage lending market. Source
In October 2016, Prospect Marketplace Lending Corp. filed an N-8A and an N-2 indicating the company's investment status and plans for managing a closed-end fund investing 80% of the assets in marketplace lending investments; the firm has now filed a Form 40-APP; the Form 40-APP requests permission to offer multiple share classes, each with its own fee and expense structure. Source
The Ant Group is slated to go public with a valuation around $200bn, which makes it the world’s highest valued...