Capita pays off Arch cru investors to escape court ruling

Investors get secret deal

FTSE 100 listed firm Capita has reached an out of court settlement with investors in failed fund range Arch cru, bringing the case to a close after a three-year battle.

A group of around 1,000 investors argued Capita Financial Managers, part of the Capita Group, had failed in its oversight of the Arch cru funds and contributed to the collapse of the £350m investment almost seven years ago. The investors claimed a total of £35m to repair their alleged losses. Capita, which denied the claims, confirmed it had reached a settlement but would not say for how much, saying the deal was confidential. No joy for Arch cru investors as fund wind-up ‘unlikely' by year end One investor who spoke to Professional Adviser on condition of anonymity said investors w...