Arch cru: Capita redress estimates plummet further

Investors in the collapsed Arch cru fund range who sign up to a payment scheme set up by the funds' authorised corporate director, Capita Financial Managers, are in line to receive markedly less than forecast.

Documents sent to investors last month by Capita reveal the estimated total return to investors based on the net asset value (NAV) of the six funds now stands at 61% of the amount invested, down 7.6% on the 66% forecast in September 2011. Investors in the largest fund, the Investment Portfolio, which contained about 70% of the total amount invested, are now estimated to receive just 58%, down 9.4% on the 64% estimated two years ago. The Capita payment scheme, which is a £54m compensation package funded by Capita alongside the funds' depositaries, BNY Mellon Trust & Depositary and HSBC...