June 2020 Portfolio update: Grupeer presents their plan to repay investors

Investment update in June 2020

The stockmarket didn’t really seem to know what it wanted this month, we had a few drops and a few rises, but in general nothing to indicate that corona is behind us or that we are tumbling into a deeper crisis. I guess the stockmarket really hasn’t made up its mind. Its not unexpected given the record breaking infections that we see across the world and especially in US that is dominating the stock market.

Last month I decided to write off all investments I made in Grupeer as they were officially 60 days late on repayment. As a reminder I had a big investment there of 9000 EUR, so it was a very difficult decision to make. Grupeer remains the center of attention this month and since last month, together with other investors, I have employed a lawyer to assist us to retrieve our investments. On the other side Grupeer has just presented their initial version of their plan to repay the investors. But more about that bellow.

In my personal life since I had a lot more time to spare by no longer travelling and working from home I have taken up various sports. I managed to sport 42 hours in June! Partly due to holidays of course that gave me more time for this, but also because I have been looking for new sports. Right now I am doing mainly mountainbike, tennis, kite and gym. So yes I do spend much more $ on sports these days, but I really put the goal for myself to get into shape and try to enjoy the summer. And at the end of the month its really nice to see the results in Strave, which is my n1 App to track all my activities:

My Portfolio

My Portfolio has risen slightly to 64498 EUR mainly because of additional investments. Its good to see that after a few months of a dropping portfolio I am making a recovery.

On the bellow graphic there is three movements that are very clear this month:

• Continue the sell off of my peer to peer portfolio, so transfered a little over 600 EUR from peer to peer to ETFs
• Invested about 1300 EUR extra in ETFs on top of the 600 EUR that came from peer to peer
• The stock market remained stable this month

Lets look into more detail for each of these investment types shall we.

ETFs

It seems the stock market is stabilizing and has no idea if it should move up or down. I made a modest profit this month of 52 EUR, mainly thanks to my IShares Core MSCI EM IMI UCITS ETF (CEMU) that performed really well

	Inception Date	Total Portfolio	Monthly P&L	Total P&L
SPDR MSCI World UCITS ETF (SWRD)	31/01/2020	31411	-95	-3126
IShares Core MSCI EM IMI UCITS ETF (CEMU)	28/02/2020	2211	147	-243
Total ETF Portfolio	30/09/2019	33622	52	-3369

At this point I am really happy I limited my portfolio to just two ETFs, it makes it so much easier to track! And I keep finding it very easy to invest with DEGIRO, I am really happy I chose DEGIRO as broker!

SPDR MSCI World UCITS ETF (SWRD)

My World ETF has made a small loss this month but nothing to worry about

SPDR MSCI WORLD UCITS	Total Portfolio	Monthly P&L	Total P&L
31/01/2020	25160.41	0	0
28/02/2020	23674	-3852	-3852
03/31/2020	22851	-3362	-7214
30/04/2020	29034	3627	-3587
31/05/2020	29590	556	-3031
30/06/2020	31411	-95	-3126

ISHARES CORE MSCI Emerging Markets IMI UCITS ETF

With a 137 EUR profit it was a second best month for this ETF this year.

ISHARES CORE MSCI Emerging Markets IMI UCITS ETF	Total Portfolio	Monthly Profit	Total P&L
31/01/2020	2448	0	0
29/02/2020	2249	-205	-205
31/03/2020	1918.38	-331	-536
31/04/2020	2099	182	-354
31/05/2020	2064	-36	-390
30/06/2020	2211	147	-243

Peer to Peer

I will no longer keep track of the income I am getting into peer to peer. Instead I am showing the withdrawals here. I sold on the secondary market where possible, but without giving huge discounts. In total I managed to withdraw an additional 2% this month, putting me on 47% withdrawn up to date, which is not bad considering these are long term investments.

Portfolio	Start	Total at 29/02/2019	Left inpeer to peer	Expected end date	Money left to withdraw
Crowdestor	30/09/2019	2974	2979	07/02/2022	100.17%
Grupeer	30/09/2019	8990	8990	In Legal procedure, awaiting Grupeers plan	100.00%
Iuvo Group	31/12/2019	224	0	04/2020	0.00%
Kuetzal	30/09/2019	1005	1005	Defaulted. In Legal procedure	100.00%
Mintos	30/09/2019	9982	865	01/06/2021	8.67%
NeoFinance	30/09/2019	1273	0	04/2020	0.00%
PeerBerry	30/09/2019	2548	1094	05/09/2022	42.94%
TFGCrowd	30/09/2019	1434	210	17/09/2020	14.64%
Total	30/09/2019	28430	15143	05/09/2022	53.26%

CrowdEstor

• I was not able to withdraw anything from CrowdEstor this month, but I expect I can finally start next month as interests are coming in again. As you can see bellow I am expecting quite decent amounts to come in the coming month!

Grupeer

Grupeer has officially defaulted with more then 60 days of delay on my withdrawals. I wrote off Grupeer but there is two points of light at the end of the tunnel that give me hope of recovering some part of my investment.

Legal action

I have grouped together with other investors to prepare a law suit for Grupeer. The main goal of the legal action will still be to ask Grupeer to repay the investments as planned and not to resort to bankrupting Grupeer.

Unfortunately everything is confidential, so I am not at liberty to discuss anything not public here. All I can say its being prepared right now, and it feels good to have legal representation.

Plan from Grupeer

The other point of hope is the plan from Grupeer. Yesterday Grupeer posted they have analysed their portfolio and decided there is 5 Groups of investments / Loan originators.

Group 1: This includes money that was not yet invested mostly and can just be transfered back

Group 2: These are good Loan Originators that are willing to continue payment. They will announce in 2 days if payment will be resumed.

Group 3: These are Loan Originators that have financial problems but are planning to present a repayment schedule by the 20th of July

Group 4: These are Loan Originators that basically refuse or cannot pay anymore. Grupeer states they will prepare legal action against them

Group 5: These are Loan Originators that have not decided yet what to do. They might land in Group 3 or Group 4.

I mostly invested in loans on Grupeer and based on this its clear that it was mainly the B2B that have a lot of issues. The P2P are doing better. I have analysed my portfolio to find out how good / bad I was off and found the following results:

 [visualizer id=”3020″] 

That means that 75% is hopefully in a recoverable state. 3% is probably lost and 22% is unclear but at high risk. All in all my portfolio is not doing that bad, if Grupeer is telling the truth I can hopefully recover a large amount still. As you can see at the graph bellow my portfolio is also doing much better then the average portfolio.

Grupeer does point out it all depends of their bank accounts getting unfrozen, and its not clear yet if that will happen. If it happens then they will resume operations from the 3rd of July for Group 1 and Group 2. Exciting times!

Kuetzal

I am in a legal procedure with Kuetzal and cannot comment on any non-public information. There is also nothing new to add, I expect the next update to be somewhere in my blog from August.

Mintos

I have managed to withdraw about 93% of my cash from Mintos already. My last loans are for 95% in Capital Service, and this is suspended from the secondary market unfortunately. I managed that right now the pace of further withdrawals is going really really slow. Additionally most of my funds are currently stuck in pending payments. All I can do is wait and hope that Capital Service will recover and make faster payments soon.

PeerBerry

Withdrawals are going slow but steady and I managed to withdraw another 80 EUR this month. So far 58% is already withdrawn.

TFGCrowd

I managed to withdraw another 500 EUR of finished projects this month! Im amazed to see the recovery of TFGCrowd. I have one project remaining where I have 200 EUR of principal in, that finishes in September. So far I managed to withdraw 85% of my investments!

My final project is a real estate project in Cambridge. A really good area, so what could possibly go wrong?

Startups

I still have 3500 EUR in startups, right now there is nothing new to report.

Retirement funds

I decided not to update my retirement funds all the time since for most of the funds I get an update just once a year, so I will update it also just once a year. This is from end of 2019. I will update it again in December 2020.

November 2019	Current Value
KBC Pension funds	7999
First job Pension plan	1467
Second job Pension plan	592
Third job Pension plan	12084

Wins / losses this month

• My ETF Portfolio made 52 EUR profit
• Some light at the tunnel for Grupeer, is there a chance I can recover some part of that investment?
• I tried Kite Surf for the first time and loved it!
• I also subscribed to a Gym membership, my new gym has something called an egym to help you progress easier on the level you are at

What is next?

• I will be waiting full of tension to see if Grupeer actually starts repayment the 4th of July or not
• I want to try to drink less alcohol, as a way to get more into shape. So I am going to try to say no to alcohol the coming month. This with the exception of birthday parties.

I will also post a savings rate update soon! Subscribe and make sure you don’t miss any of my monthly portfolio updates!