CF Arch cru announcement
Announcement regarding winding up of the CF Arch cru Investment Portfolio, CF Arch cru Specialist Portfolio (each a sub-fund of the CF Arch cru Investment Funds), CF Arch cru Income Fund, CF Arch cru Global Growth Fund, CF Arch cru Balanced Fund and CF Arch cru Finance Fund (each a sub-fund of the CF Arch cru Diversified Funds) (together the "Funds")
In our letter to investors dated 7 December 2009, we explained that we had concluded that the only feasible option for the Funds which was in the best interests of shareholders as a whole was for the Funds to be wound up, with the assets realised in an orderly manner. Our letter explained the reasons for reaching this view, including the alternative options considered and the reasons why they were not feasible.
Capita Financial Managers Limited, the ACD of the Funds, applied to the FSA in December 2009 for approval of the winding up of the Funds on this basis. The FSA has now granted this approval, and the winding up of the Funds has commenced with effect from 1 February 2010. The next step is for the assets of the Funds to be realised and distributed to shareholders. We will report further on the process for achieving this in our next letter to shareholders, which we expect to issue by the end of February 2010.