Pay-outs for 90% of Keydata investors

THOUSANDS of investors who lost money in the collapse of Keydata Investment Services in June will receive compensation, but others are still waiting to find out if they will qualify.

The Financial Services Compensation Scheme yesterday said it had received 5,000 claims from people who invested in Keydata Secure Income Bonds and, out of the 4,400 claims on which it has issued a decision, 90 per cent qualified for compensation.

The FSCS has so far paid out 42 million to these people and is working on the outstanding claims which required more detailed investigation.

People who bought investments through Keydata which were sold as ISAs and backed by another firm, Lifemark, will also be covered by the FSCS.