LAFDI market report - Friday 24th July

By Sam Griffiths on Friday 24 July 2015

Alternative Lending

The Liberum AltFi Disruptors Index finished the week virtually flat, outperforming the wider market by just under 1%. Newsflow amongst the constituents was light this week.



Weekly return



MSCI World


Top 5 performing Stocks in last week


TUNG LN Equity



NSM USEquity



MNY AU Equity



EPO LN Equity



OPAY LN Equity


Worst 5 performing Stocks in last week


TAXI US Equity



NNI US Equity



BAS1V FH Equity



ONDK US Equity



WEX US Equity


  * Returns are calculated for the week to local market close on Thursday.

One of the few members of the disruptors index that is getting a taste of its own disruptive medicine right now is Medallion financial (TAXI US). The shares in the specialist taxi medallion finance company topped the LAFDI loser board for a second week running, posting a 7.5% loss on the week. The fall was precipitated by the news that NYC’s largest owner of Taxi medallions was forced by one of its creditors to give up some of his medallions in order to pay down debt. The value of these medallions has been plunging thanks to the likes of Uber disrupting the traditional yellow cab taxi business.

Tungsten Corp had a big week, however the stock is now trading like a penny share with +/-5% daily swings. Net net it has moved sideways over the past month with investors waiting for direction from management as a result of the stock’s 80% fall over the last 12 months. There was talk of the company being taken private a few months ago but nothing further has been heard about this.

At the recent meeting of the LAFDI Index Committee, it was decided that two new contituents should be added: Ranger Direct Lending (RDL LN), a recently floated closed end fund, and Yodlee, a software company providing an account aggregation service so users can view bank, investment and credit card accounts on one screen, ultimately providing a personalised service. Yodlee also enables finance providers to view a loan applicant's accounts. This is increasingly being used by Alternative Finance platforms to provide credit models with greater information.

Please note : The LAFDI is now available on Bloomberg.  Tickers:

LAFDITR Index <GO> for the Total Return Index

LAFDIPR Index <GO> for the Price Return Index

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