FSA earmarks Keydata-style funds as 'unsuitable for mainstream'

Traded life policy investments, the underlying assets of the funds marketed by failed investment firm Keydata, are only suitable for "sophisticated customers capable of fully understanding the way in which the product works and the likelihood of it failing," the FSA states today. The asset class features on an initial list of products, published this morning in an FSA discussion paper, which the watchdog says have already caused problems for consumers, and would likely be deemed unsuitable for mainstream investors in the future. An new FSA-rated list of non-mainstream products is one ...