Arch Cru fund valuations drop again

The estimated value of the remaining assets within the Arch Cru funds has fallen again, reducing the amount of returns to investors being offered by Capita Financial Managers, the authorised corporate director.

In its latest letter to investors, the firm gave an update to how much of the total value of the funds at suspension, in March 2009, they will get through Capita's £54m payment scheme and the remainder of assets. It said the estimated total return of the Investment Portfolio, based on 29 February 2012 NAVs, is now 62%, down from 64% on 30 September. Meanwhile, the total value of all the Arch Cru funds is now 64%, down from 66%. If these estimates are realised, IFAs who mis-sold the products may end up paying more than the £110m the FSA has estimated under the proposed redress schem...