Arc European Property was forced to mark down its value by two-thirds when it repriced this month. ...
Arc European Property was forced to mark down its value by two-thirds when it repriced this month. The direct property Oeic, which updates its value on a quarterly basis, now reports a -67.05% return over one year, the worst of any UK-domiciled fund. Arc Capital & Income product development head Chris Powell said the issue was around one of the properties in Spain. "It's quite a bitter pill to swallow after good performance for the fund when it was going up while others were not," he added. "We had to mark the property's value down - there is an issue that needs to be resolved and I...
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