View more on these topics

cru fears FSA action

cru Asset Management is concerned that the Financial Services Authority (FSA) may want the Arch cru fund range, which was suspended on March 13, to be liquidated at the earliest possible opportunity.

A statement published on cru’s website says this decision may be made “on the grounds that although the structure of the funds is not against the letter of regulation in respect of ‘alternative assets’, it is against the spirit.”

The statement, signed by cru managing director Marc Ainscough, adds that cru is seeking a meeting with the FSA.

“This will be to impress on the regulator that over 90% of investors would prefer a long-term solution to the future of the funds, and that any forced sale of underlying assets will be to the detriment of investors and may result in losses being crystallised unnecessarily.”

Related Articles:
cru to pay trail fees
Arch cru suspension to be extended

Recommended

Wrongs and rights

Much has been said about Lord Hunt’s review of the Financial Ombudsman Service although many important aspects appear to have been overlooked.

Ins and outs

In recent years, some insurers with pension books have decided that providing a pension annuity for maturing policy-holders is not for them and have taken the decision to outsource. The reasons for this are manifold but key to the decision-making process is the longevity and investment risk and the capital requirements of the insurer.

Mexico $47 billion IMF credit line approved

The International Monetary Fund (IMF) has approved a $47 billion (£32 billion) credit line for Mexico, making it the first country to receive the Flexible Credit Line (FCL) facility designed to combat the economic crisis.It is the largest financial arrangement in the history of the fund, which was boosted earlier this month when countries in […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com