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Capita Financial Managers has published its most up-to-date figures for the total return - and loss - investors in each of the Arch Cru funds can expect.
The totals are made up of the amount investors have already received in distributions, what they will receive if they accept their share of the £54m Capita payment scheme, and how much Capita estimates to be the remaining, realisable net asset value (NAV) - the underlying worth - of the funds.
Figures in the table below are as of 15 December. The remaining NAV is as of 30 September, excluding the value of the December distributions, and may go up or down.
Under the payment scheme, the amount offered to each investor is fixed at approximately 34% of the difference between the suspension value of their holding and the value of their holding as at 31 May 2011 (including the interim capital distributions made prior to 31 May 2011).
For example, if the fall in value between those dates was £100, an investor would be offered approximately £340 under the scheme.
To explain the difference between the estimated total return for each fund and its suspension value, Capita noted that the remainder may be recovered from 'other parties'.
Capita's payment scheme is currently facing two separate judicial reviews from a group of IFAs who advised clients to invest in Arch Cru and a group of Arch Cru investors.
| Investment | Specialist | Balanced | Global growth | Income | Finance | |
| Already received distributions | 23.6% | 31.3% | 29.4% | 39.3% | 28.2% | 35.5% |
| Remaining NAV | 25.1% | 30.9% | 28.4% | 31.9% | 24.4% | 18.2% |
| Payment scheme offer | 15.2% | 10.9% | 12.3% | 7.9% | 15.7% | 15.2% |
| Total | 64% | 73% | 70% | 79% | 68% | 69% |
| Share | |
| Comment | Capita reveals breakdown of latest Arch Cru loss figures |
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Who are they kidding?
The NAV's on the Investment Portfolio have dropped (conveniently) 20% since the 14th of November!!! I smell a rat, the FSA has got to face up to its responsibilities and deal with these idiots. Less of the old school tie network Hector and a bit more of Big Brother is required!!!!!!!!!!!!!
Posted by: Anon
FSA - Do something decent for a change !!
I have followed the Arch Cru debacle for some time now. It is quite clear to me that the FSA have failed massively in their responsibilities to consumers and to IFAs. Their latest predictable activities "we are going to review the advice of Arch Cru funds" is a sham. Its a cover up for their absolute inadequacy. The financial services industry has to man up to the FSA and force action to get this whole situation dealt with properly. Not just a fudge !! Arch Cru funds were sold on "mis - information" - not only that "mis - information material" that the FSA actually approved . Do the decent thing for a change FSA and make those really responsible for this debacle pay up instead of bullying your way out of things yet again .......or do you have something to hide ?
Posted by: Michael
IFA insurance
Our IFA went into administration when his insurance company cancelled his policy. What we wonder is whether we could sue the insurance company he had when he sold the Arch Cru to us at £200,000. The IFA who took over his client list is another possibility if he also bought the business but he hasn't replied to our query - yet. Any help and advice gratefully received. Our MP is being very helpful and will write to those who refuse to reply to us.
Posted by: Anon
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so true
last post is absolutely correct. Capita were selling Arch Cru upto day before suspension.....they then right down NAVs massively then suspend. Conveniently they use these revised NAVs to decide what compensation is on offer. FSA/Capita come up with a 'fair and reasonable compensation package'. I know they arent on the ball but to allow this sort of manipulation is an utter disgrace. Capita are getting away with daylight robbery. Shameful!
Posted by: Anon