Author Topic: LendingClub Closes Chapter on Fintech Funds  (Read 2093 times)

AnilG

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LendingClub Closes Chapter on Fintech Funds
« on: October 25, 2017, 09:13:05 PM »
Most probably not a news to LC Fund investors like Fred93

https://www.wsj.com/articles/lendingclub-closes-chapter-on-fintech-funds-1508960133

LendingClub Closes Chapter on Fintech Funds
Online loan specialist sold assets in five funds for $376 million

By
Peter Rudegeair

Online loan specialist LendingClub Corp. is shutting down five of its investment funds, including a $318 million portfolio that had been marked by accounting issues and sagging performance, according to investor documents reviewed by The Wall Street Journal.

Earlier this month, investors in LendingClubís Broad Based Consumer Credit (Q) Fund, the biggest at the San Francisco firm, were notified that the fundís holdings were auctioned off, according to a letter to investors. It didnít specify exactly how much money would be...

Full story at http://www.cetusnews.com/business/LendingClub-Closes-Chapter-on-Fintech-Funds-.r1-JOFP0pZ.html
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Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
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Rob L

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Re: LendingClub Closes Chapter on Fintech Funds
« Reply #1 on: October 26, 2017, 09:09:48 AM »
It was news to me. Thanks for the post.

jd

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Re: LendingClub Closes Chapter on Fintech Funds
« Reply #2 on: October 26, 2017, 09:37:50 AM »
Thank you very much for the post.

I guess the question is will this be good, bad, or indifferent to the investors? I mean the people buying loans, not shareholders.

What do you think?