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Cru investor committee to investigate possible regulatory breaches by ARCH or Capita

Cru’s new investor committee is to consider whether there has been any regulatory breach by ARCH or Capita.

Cru says the committee will take legal advice, together with representations to the FSA, to seek redress if appropriate.

The news comes as cru unveils the names of the eight strong committee dealing with the ongoing suspension of the £400m range due to liquidity issues.

Other areas the ARCH cru investor committee will tackle include finding a time sensitive profile of the fund’s underlying assets, evaluating the fund pricing with regards to calculating the NAV of the funds when the range was suspended and what it would be should it be lifted.

The committee will also make representations to Capita and ARCH with regard to any extension of suspensions and temporary conditions with regard to redemptions and to consider a fund structure that accommodates new subscriptions, redemptions and partial withdrawals.

Cru says most of the have attended detailed due diligence with ARCH and understand the structure of the products and investment philosophy. The committee address over £100m of the assets in the fund range.

Cru says that founder Jon Maguire and managing director Marc Ainscough will also attend the committee when available and has also made a standing invitation to ARCH chief investment officer and head of the Portfolio Management Group Michael Derks to attend the committee. A chairman will be chosen at the meeting on Monday.

A delegation will also meet with Capita at a later date.

ARCH cru Investor Committee
Patrick Barker (Chairman, Barker Poland)
Chips Bishop (Managing Director, Gracechurch)
Steve Danner (Managing Director, SDAM)
Tim Field (Director, Lifestyle)
Jon Lloyd (Solicitor, Anthony Collins), Solicitor for clients invested and private investor
John Rands (Director, Squirrell)
Paul Scarf (Managing Director, Accountants Financial Planning)
Kevan Ward (Director, Optima Group)

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