Keydata

Investors in some Keydata plans are set to begin receiving income payments, PricewaterhouseCoopers (PwC) says.

At first glance the UK structured product world has taken another serious blow due to the various issues surrounding the collapse of Keydata. But are structured products to blame?

Structured products provider NDFA has launched an alternative product to Keydata's now defunct, Dynamic Growth Plan Plus Issue 17, using the same issuing bank.

Keydata cannot be sold as a whole as potential issues have come to light including the fact some 5,500 investors in seven Secure Income plans will be told their assets have been 'misappropriated'.

Structured product provider NDFA is withdrawing from the race for Keydata Investment Services (KIS), which went into administration earlier this week.

The boards of Keydata Income VCT 1 and 2 have hired Foresight Group as investment manager and administrator.

Around 85,000 savers who hold Keydata Investment Services' capital protected investment plans have been reassured their money is safe, according to The Daily Telegraph.

NDFA says it has expressed an interest in buying Keydata, which went into administration yesterday.

The FSA halted negotiations between Keydata and HMRC over an unsettled tax bill and forced the company into administration, IFAonline understands.

Keydata's administrators have been approached with a view to buying the stricken company, it has been revealed.