Capita: Value of remaining £149m in Arch Cru unknown

Laura Miller
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Capita Financial Managers, which wants Arch Cru investors to accept a payoff linked to the sale of assets from the suspended fund range, has admitted that three-quarters of the remaining value of the cells is uncertain.

In accounts for the year to 31 March 2011, published on Monday, the authorised corporate director of the funds said there was now "significant difficulty and uncertainty" in ascertaining the recoverable amounts of the cell's investments. For the CF Arch Cru Diversified Investment funds, it states: "In respect of investment assets carried in the balance sheet of the company of £36m there is uncertainty over approximately 70% of the value." With the CF Arch Cru Investment funds there is uncertainty over approximately 75% of the value of £113m assets, it states. The accounts confirmed...

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