Capita Financial Managers has suspended its collection of all charges from investors in the Arch cru fund range.
Annual management charges paid to the funds' investment managers Arch have also been suspended. The suspension will apply to all fees from 1 April, pending CFM's review into the funds, which includes an audit of valuations of their underlying holdings, as a result of trading in the products being suspended in March. CFM chief executive Chris Addenbrooke says: "While we regret the temporary loss of income to IFAs that our decision will involve, our priority has to be the needs of shareholders. "We don't think that shareholders would consider it justifiable for fees to continue to be...
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