FSCS makes further payouts to Keydata claimants

The Financial Services Compensation Scheme (FSCS) has made top-up payments to Keydata investors after it recovered money from the underlying bond Lifemark's trustees.

These payments, around 2.5% of the invested capital, brought the total amount paid out to investors by the trustee to 13% of the capital invested - the majority of the estimated 13%-15% the trustee said it would pay out. Further top-up payments are anticipated for September this year, the trustee said in a bondholder notice issued earlier in the month. The balancing payments should reach the eligible investors - those with more than £30,000 invested who have not yet received their total compensation due - by mid-April, the FSCS said. Keydata bonds were sold to UK investors via fina...