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  • 13 March 2009 - Dealing suspended in Two Arch Cru Funds
  • 13 March 2009 - Dealing suspended in Four Arch Cru Funds

Capita Financial Group > CF Arch Cru Fund Suspensions > March 2009 > 13 March 2009 - Dealing suspended in Four Arch Cru Funds

Dealing suspended in 4 Arch Cru Funds:

CF Arch Cru Income Fund, CF Arch Cru Balanced Fund, CF Arch Cru Finance Fund, and CF Arch Cru Global Growth Fund (sub-funds of CF Arch Cru Diversified funds, an Investment Company with Variable Capital) (the “Funds”)

Capita Financial Managers Limited (“CFM”), as the Authorised Corporate Director of the Fund, has today obtained the agreement of the Funds' Depositary (which is responsible for the safe keeping of the assets of the Funds) to suspend dealing in shares in the Funds, with immediate effect and until further notice.

Arch Financial Products LLP is the delegated Investment Manager of the Funds.  Two other funds of which we are the Authorised Corporate Director, and of which Arch Financial Products LLP is the delegated investment manager, announced on 13 March 2009, the suspension of dealing in shares of those funds.  Those funds share similar underlying holdings with the Funds, although with different asset allocations.  In addition, there is overlap between investors in those other funds.

We consider that the suspension of the other funds will lead to an increased likelihood of requests for the redemption of shares in the Funds. At the same time there is significant lack of market liquidity in the assets which comprise the Funds’ portfolios.  We have therefore come to the conclusion that it is in the interests of all Shareholders in the Funds to suspend the issue, cancellation, sale, redemption and transfer of shares in the Funds. 

During the period that share dealing is suspended no requests to redeem, purchase or transfer shares in the Funds will be accepted.  In the event that CFM elects to resume dealing in the shares of the Funds, we will write to all Shareholders informing them of this fact.

We are currently reviewing the options for the Funds and we will keep all shareholders appropriately informed about the suspension, including its likely duration.

If shareholders have any questions regarding this suspension of dealing please contact us on 0845 6080958 or alternatively email us at Technical.services@capitafinancial.com

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