Capita pays off Arch cru investors to escape court ruling

Investors get secret deal

Laura Miller
clock • 4 min read

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. One investor who spoke to Professional Adviser on condition of anonymity said investors were not happy with the offer put forward by Capita, but after three yea...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers have opportunity to deepen private market engagement

Advisers have opportunity to deepen private market engagement

Most client allocations to private markets are either 5%-10% or 1%-5%

Isabel Baxter
clock 18 November 2024 • 2 min read
Royal London cuts number of governed range portfolios

Royal London cuts number of governed range portfolios

Renaming remaining portfolios to reflect level of investment risk

Jenna Brown
clock 18 November 2024 • 1 min read
AJ Bell cuts fees across multi-asset income range

AJ Bell cuts fees across multi-asset income range

£1.5bn of inflows this year

Beth Brearley
clock 14 November 2024 • 1 min read