Early windfall for Skandia's Protected Portfolio

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CLIENTS who invested in Skandia's Protected Portfolio Investment in April 2004 will receive their payout three years ahead of schedule because of strong performance, Skandia announced today.

Investors who signed up to the plan will receive a payout of 125pc of the amount invested at the beginning of May this year, three years ahead of schedule. The investment had a six-year term but the terms of the contract also meant that if after three years the growth of the portfolio had reached 40pc, the investment would pay out early. Clients will now receive back 100pc of their initial investment plus 62.5pc of that growth. Skandia’s Protected Portfolio Investment is linked to the performance of a portfolio of five leading UK-based investment funds. Growth in the Portfolio...

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