European Crowdlending fund monthly review (June 2019)

We are continuing with the monthly column of results of the European Crowd Lending Fund (the Fund) in which we briefly overview what is happening in the European P2P and crowd funding market and how it affects the performance of the Fund.

Monthly result: +0.68%
Result from the beginning of the year: +4.30%
Result from the start of the activity: +24.36%

Platforms, providing investment data publicly, through the month of June, funded around EUR 609 million of loans and the Latvian platform – Mintos, funded EUR 238.10 million of loans (increase of 4% from the previous month), widening the gap between all of the remaining European platforms.

Respectively, platforms Zopa and Ratesetter, which are registered in UK, were in the second and the third place financing 106.4 million EUR (decrease of 3% from the previous month) and 75 million EUR (decrease of 15% from the previous month) of loans.

After Mintos, Twino, PeerBerry, Bondora, Vianinvest ir Iuvo Group financed most of the loans in Baltic States, respectively, 13.7 million EUR, 11.3 million EUR, 9.2 million EUR, 6 million EUR and 5.3 million EUR.

Platforms, providing investment data publicly and funding to Lithuanian businesses and individuals, collected EUR 4.684 million in June (decrease of 4.25% from the previous month).

The distribution of funded amounts of loans was as follows (brackets shows the changes compared to the previous month):

  • Paskolų klubas – EUR 1.412 million (decrease of 13.28%);
  • Lenndy (Latvian based platform) – EUR 856 thousand (decrease of 2.44%);
  • Finbee (consumer and business loans collectively) – EUR 1.030 million (increase of 18.77%);
  • Savy – EUR 640 thousand (increase of 23.08%);
  • Profitus – EUR 745 thousand (decrease of 25.35%).

The European Crowdlending Fund increased by 0.68%. The net asset value at the end of month was EUR 13.8 million. Since the beginning of its activity, the Fund has reached EUR 36.2 million of funded loans.

The insolvent loans were written-off at the end of the month. From the start of the activity, total amount of written-off loans is around 1% from net asset value. The liquidity of the portfolio remains optimal – 62% of the net asset value are investments with a maturity of 12 months or less.