Independent corporate finance and investment advisory firm, specialising in smaller quoted and larger unquoted companies
29 April 2010
Merchant Capital is a financial services company based in the City of London which offers a broad range of corporate advisory and broking services together with private wealth management and institutional investment management services.
Merchant Capital will manage all the blue chip backed structured products issued by Keydata and Dawnay Day Quantum together with some products issued by a small number of independent plan managers.
Following the transfer, Merchant Capital will take on the responsibility for the management of plans including the processing of income payments (from May 2010), surrenders and maturities. The new arrangement with Merchant Capital will mean that the administration of client plans will now be undertaken by Pritchard Stockbrokers Limited (Pritchard, a firm authorised and regulated by the FSA) on behalf of Merchant Capital.
Pritchard is a well-established private client investment management and stockbroking business with its head office in Bournemouth and ten branches throughout the UK.
While every effort will be made to effect a smooth transition to the new manager, in order to achieve a clean cut-off and to ensure the integrity of the migration of data to the Merchant Capital systems, there may be a short period where any surrender requests, ad hoc valuation requests or requests for any other changes may be subject to a short delay as information is double-checked. Merchant Capital advises Keydata clients that payment of maturity proceeds in relation to three Keydata managed plans due to mature during the last week of April will also be subject to a short delay while the details of investors are verified in this transitional phase. Merchant Capital assures clients that their investments are not at risk.
Merchant Capital aims to keep any delay to a minimum and apologises in advance for any inconvenience this may cause. If you need to contact the new team at Merchant Capital, they can be contacted by telephone on 0207 332 2218, by fax on 0207 332 2201 or by email to .(JavaScript must be enabled to view this email address) or visit http://www.merchantcapital.com/our-services/structured-products
Merchant Capital will be writing to IFAs and all planholders advising them of the change in the on-going administration of their plans as soon as possible after completion of the transfer.
Merchant Capital will not be taking on the management of any Keydata products backed by SLS, Lifemark or Hometrak. Keydata’s administrators, PricewaterhouseCoopers, will retain responsibility for these and any on-going queries in relation to them should continue to be referred to them.
Merchant Capital recently took on the plan management business of Arc Capital and Income plc and the take on of the Keydata plans complements this business. Keydata planholders will benefit from the experience of Merchant Capital’s existing team and Merchant Capital looks forward to providing them with a period of stability after recent uncertainties.
A spokesman at Merchant Capital Capital commented,
“Merchant Capital is delighted to be taking on the Keydata structured product book and is looking forward to working with clients who hold Keydata managed products and their advisers in the future.
Merchant Capital’s philosophy is to offer a range of attractive and innovative structured products providing either income or capital growth both to individual investors and institutions.
There is a place in this market for independent product providers and Merchant Capital is excited to be growing its position as a provider of innovative but straightforward structured products offering investors a real alternative to other offerings in the market.”
For further information please contact:-
Merchant Capital 0207 332 2205
Broker Team
Merchant Capital Limited
Aldermary House
10-15 Queen Street
London EC4N 1TX
United Kingdom
Tel: +44 (0)20 7332 2200