Scottish Widows OEIC protected ISA

scorpioto

Hi, in February I invested £7200 in a 6 year protected shares ISA with Scottish Widows based on the FTSE 100, after they had taken their commission ect I was left with about £6700 which was put into say 6500 shares at a value of £1.20 each.At that time the FTSE was low about 4200 - 4300 but it dropped lower and consequently the value of my investment dropped to about 93p a share, thats fine and what I would expect if the FTSE 100 drops its obvious the share price will drop. However the FTSE is now over 4600 but my shares are worth less than my original £1.20, I asked the financial adviser in my Lloyds TSB originaly advised me to take this out why, he told me it was a long term plan and it was to stop people withdrawing the shares early, I told him thats OK but why did the share price drop when the FTSE dropped but didn't rise when the FTSE went up, he just gave me a load of jargon about long term investment and that that's why it's protected. Can anyone enlighten me as to how these work because I am very confused.