SHAREHOLDERS in Funding Circle's dedicated investment trust have backed winding down the fund.An extraordinary general meeting (EGM) was held... where it was agreed that the investment objective and policy of the fund be modified to facilitate a managed wind-down.It has also changed its name from the Funding Circle SME Income Fund, to the SME Credit Realisation Fund Limited.The board of the investment trust said it wants to return capital to shareholders in a timely manner, while maximising the value it can get from the company's investments.Shares will remain listed and tradeable as long as practicable during the wind-down, the board said. It will switch from its current strategy of making regular share repurchases to a quarterly redemption cycle. As the proceeds from asset sales build up, the directors will have the discretion to return capital to shareholders on a pro rata basis, and can make ad hoc returns if there is excess cash.
Loans - Latest NewsThe latest loan from property-backed Seascape is now available. This A-rated tranche yields 8 per cent gross and has a five-year duration.
A Process Guide To Innovative Finance ISA InvestmentMoney&Co. lenders have achieved an average return of more than 8 per cent gross (before we deduct our one per cent fee). That figure is the result of £17 million of loans facilitated on the site, as we bring individuals looking for a good return on capital together with carefully vetted small companies seeking funds for growth. Bear in mind that lenders' capital is at risk. Read warnings on site before committing capital. The annualised bad rate on Money&Co. loans in five years of trading is under 0.04 per cent.All loans on site are eligible to be held in a Money&Co. Innovative Finance Individual Savings Account (IFISA), up to the annual ISA limit of £20,000. Such loans offer lenders tax-free income. Our offering is an Innovative Finance ISA (IFISA) that can hold the peer-to-peer (P2P) business loans that Money&Co. facilitates. For the purposes of this article, the terms ISA and IFISA are interchangeable.So here's our guide to the process:
Risk: Security, Access, YieldDo consider not just the return, but the security and the ease of access to your investment. We write regularly about these three key factors. Here's one of several earlier articles on security, access and yield.