IFAs inform cru of fund suspensions

The entire Arch cru fund range was suspended last week due to a lack of liquidity to deal with redemptions. Capita, which has responsibility for settlements, determined liquidity in secondary markets was inadequate for the funds to continue to operate. However, Capita and Arch failed to notify cru before the suspension. Jon Maguire, cru's non-executive chairman, blamed a "breakdown in communication", following discussions between the funds manager Arch and the ACD Capita. "The funds were suspended, we were not even advised but discovered by IFAs calling us to say that they were unable...