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Jubilee keen on Keydata

Jubilee Financial Products has approached PricewaterhouseCoopers (PwC) to express its interest in buying Keydata Investment Services (KIS).

PwC is the designated administrator for KIS after the Financial Services Authority declared the company insolvent. The announcement came as a shock to the market which had considered Keydata a successful administrator of structured products with a strong business model.

Adam Habib, the chief executive of Jubilee, says he feels KIS would be a good fit with the company and that, although things are far from clear at present, Keydatas product range has enjoyed almost a decade of success.

Related story:
Keydata goes into administration
Blue Sky says investors are safe from Keydata losses


Prime motivation

Money market funds have quickly become big business amid recent economic turmoil and Prime Rate Capital Management has enjoyed 600m-plus inflows in little more than a year.


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