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Money&Co offer portfolio service
Money&Co have contacted lenders to offer a new portfolio service. The portfolio service will manage a lender's loan portfolio for a 1% fee, but if lenders sign-up by the end of the year they will receive a cheque for £1000. To take advantage of the service lenders require a minimum £100,000 investment.
Given that there have only been 23 loans on Money&Co, including one currently open loan, and contrasting that to 25,511 loans arranged on Funding Circle, the value of the service could be uncertain.
Here is the email sent to lenders:
The Money&Co. Portfolio Service
We are writing to tell you about a special Christmas offer. If you sign up for a Money&Co. Portfolio Service account before 31st December, we will send you a cheque for £1,000.
The Money&Co. Portfolio Service has a minimum investment level of £100,000. If you sign up, a fund manager will manage your loan portfolio for you at no extra cost. The normal lender fee is 1% per annum. If you have no specific requirements, we will ensure that there is a spread of loans in your portfolio across all the risk ratings. You can choose to have interest paid out monthly or we can reinvest money coming back from your loan portfolio into new loans.
If you would like to know more about the service, please email us. Remember, if you sign up before Christmas, we will send you a cheque for £1,000.