Any views on dozens?

K_T_1

I'm considering putting some money into the dozens 5% fixed interest 12 month bond. Anyone know of any reason to avoid this bond?

KT

badger09

Several views expressed here


https://forums.moneysavingexpert.com/discussion/5953486/dozens-bank-account

DrSyn

The best 5 year savings rate covered by the FSCS at present is 2.75%.

The FTSE 100 (a risk investment) is currently yielding about 4%.

So this investment bond (which is not covered by the FSCS) is being offered by a single company and is more risky than investing in the 100 largest companies in the UK.

Is that what you are really after?

You do realise this is not a savings bond that you might get from a bank or building society I hope.

AnotherJoe

If you are looking for an opportunity to invest in a product where you could lose all your money with no redress, this would definitely be one to consider.

dealer_wins

K_T_1 wrote: »

I'm considering putting some money into the dozens 5% fixed interest 12 month bond. Anyone know of any reason to avoid this bond?

KT

Its mega high risk, avoid at all costs if you ask me!!

bxboards

I'd not heard of them until today, but having spent the afternoon doing due diligence (which I'm used to as a major P2P investor) I think they are OK

I'm also a member of Seedrs and checked out their fund raise (over 3 million raised so far) their pitch looks strong and credible. https://www.seedrs.com/dozens

This looks like a classic case of brand building and the 5% bond I'd agree would normally be looking at the too good to be true, but in this case it's really about building brand awareness. So this looks fine for now IMHO.

I do agree with being skeptical and would urge folks to do their own due diligence, but in this rare case I don't think it's worth writing off as a knee jerk No

I've opened the app today, am waiting for the card and will be in for the 5% bond once it's actually available (so far it seems to vapourware from Dozens rather than tangible currently)- it could be an mistake, so I'll come back next year with egg on my face if it is! But I think they are OK.....

quirkydeptless

don'tzens?

AnotherJoe

bxboards wrote: »

I've opened the app today, am waiting for the card and will be in for the 5% bond once it's actually available (so far it seems to vapourware from Dozens rather than tangible currently)- it could be an mistake, so I'll come back next year with egg on my face if it is! But I think they are OK.....

You are betting £20k for 3% return.

bxboards

AnotherJoe wrote: »

You are betting £20k for 3% return.

Well I know Im out on my own here and that's fine.

I'd happily invest 20k, sadly the April 2019 5% tranche only turns out to be 50k in total. So I'll certainly try for as much as possible, but Dozens are targeting small savers, not HNW folks. So people applying for a £100 bond and smaller increments will get priority.

Look the OP asked as opinion and I gave it. Everyone has their own risk appetite and I'm not out to convince anyone, simply giving a reply as asked. I don't come here for fights.

Lastly a year or two back when WiseAlpha launched they offered 300-400k of 8% bonds. I remember posting here it seemed to good to be true!! But I have a risk appetite and can bare loses.

But Wiseslpha paid 12 months on the dot to everyone and now they are winning awards.

I'm not out to convince anyone but I do not understand why I seem to being attacked for a polite and considered response to the poster.

Voyager2002

K_T_1 wrote: »

I'm considering putting some money into the dozens 5% fixed interest 12 month bond. Anyone know of any reason to avoid this bond?

KT

They actually have TWO 5% products...

One of them is a loss-leader; is underwritten by funds held in trust; but the process of investing in it is rather complicated and only limited amounts of investment can be accepted. Probably OK, but making this investment will be a lot of work and (as with Ryanair) there is a lot of scope for clicking the wrong button and making a high-risk investment instead.

The other one turns out to be based on debt obligations in emerging markets, and may well be extremely high risk (difficult to tell from the very limited information they provide).

AnotherJoe

bxboards wrote: »

Well I know Im out on my own here and that's fine.

I'd happily invest 20k, sadly the April 2019 5% tranche only turns out to be 50k in total. So I'll certainly try for as much as possible, but Dozens are targeting small savers, not HNW folks. So people applying for a £100 bond and smaller increments will get priority.

Look the OP asked as opinion and I gave it. Everyone has their own risk appetite and I'm not out to convince anyone, simply giving a reply as asked. I don't come here for fights.

Lastly a year or two back when WiseAlpha launched they offered 300-400k of 8% bonds. I remember posting here it seemed to good to be true!! But I have a risk appetite and can bare loses.

But Wiseslpha paid 12 months on the dot to everyone and now they are winning awards.

I'm not out to convince anyone but I do not understand why I seem to being attacked for a polite and considered response to the poster.

Ah, my bad i thought I read earlier it was a £20k minimum bet. OTOH for 3% on £100 where the downside is lose it all, why bother for £3 ? In either case its a very asymmetric bet.