LendingRobot Series Second Quarter Report
Providing transparency to LendingRobot Series returns.
While investment in LendingRobot Series is limited to accredited investors, we don’t like the air of mystery that surrounds most funds. Thanks to the JOBs act, which introduced Rule 506(c) to Regulation D, we are allowed to share some of LendingRobot Series’ data publicly. The data we share is not an offer to sell any securities; prospective members are encouraged to carefully read the offering documents and email firstname.lastname@example.org with any questions they may have. Below is the second quarter report that was recently sent to the fund’s investors.
Second Quarter Wrap-up
LendingRobot Series finished the second quarter with a healthy YTD aggregated return of 2.7%. Each Series’ return and portfolio health is in line with projections. Since April 1st, LendingRobot Series has added over 2,800 loans to its portfolio, more than doubling the number of loans held in each series.
We are continuing our search for additional SMB platforms to add to Series, as the supply of loans matching our investment criteria on Funding Circle remains below expectations. As reflected in the current asset composition in the quantitative data section below, we have adjusted targeted portfolio allocations; Prosper and LendingHome allocations have increased, while Lending Club and Funding Circle allocations have decreased. These changes allow the fund to minimize cash drag, increase the overall diversity of the fund, and move closer to both the targeted Series durations while maintaining a similar risk profile.
The “Asset Holdings” csv now details the specific number of days a loan is late and the corresponding note’s current valuation. We are also uploading the fund’s monthly statements on each platform, which is available on your lefthand dashboard sidebar under “Statements”.
Thank you for your continued support and confidence.
LendingRobot Series Product Manager
* Health of a note is 100% if the underlying loan is current, and decreases by 1.67% per day of lateness for unsecured notes, and 0.83% for secured notes, with a minimum value of 0%. Portfolio Health is the weighted average of all notes’ health. Unaudited.
This post for LendingRobot Series (the “Fund”), is neither an offer to sell nor a solicitation of any offer to buy any securities, investment product or investment advisory services, including interests in the Fund. This post is subject to a more complete description and does not contain all of the information necessary to make an investment decision, including, but not limited to, the risks, fees and investment strategies of the Fund. Any offering may be made only pursuant to the relevant memorandum and relevant subscription documents, all of which must be read in their entirety. No offer to purchase interests will be made or accepted prior to receipt by a prospective investor of these documents and the completion of all appropriate documentation. All investors must be “accredited investors” and “qualified clients” as defined in the securities laws before they can invest in the Fund. An investment in the Fund is speculative and involves substantial risks. There can be no guarantee that the Fund will achieve its investment objectives. This document is not, and may not be relied upon in any manner as legal, tax or investment advice.
Assets under management include separately managed accounts. The net fund returns shown in the table on the preceding page are calculated based on LendingRobot’s valuation of the underlying loans and the amount of interest income generated by those loans, discounted by lateness of the loans, less certain fees and expenses. The performance data represents composite returns, and individual investor returns may vary higher or lower from the composite return due to timing of an investment and actual fees being charged. While monthly net returns and resulting statistics are as of the month noted, portfolio characteristics and associated information are as of the end of the most recent calendar quarter.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. The potential for profit is accompanied by the possibility of loss, including the possibility of a total loss. Performance information is presented net of all expenses, including management fees, performance fees and other expenses including portfolio-related expenses.
Current or future characteristics and other information may vary significantly from those provided herein and LendingRobot undertakes no obligation to notify recipients of any such variances.
Please note that upon a decision to subscribe to LendingRobot Series, the investor must verify Accredited Investor status via submission of certain supporting documentation. This is required by law prior to the date of investment in the Fund.
- Stephen Zentner
- August 4, 2017
- 1 Comment