ARM investors 'forced from homes' as settlement stalls

A note to bondholders this week, in which the ARM board of directors claimed it will agree on a timescale for the sale of its assets and liabilities at its next meeting, has failed to quell investor fears. The fund, which at its peak has a face value of nearly £200m, never achieved regulatory approval, and in August 2011 was frozen by the CSSF in Luxembourg (where the fund is based), leaving more than 1,500 clients locked out of their investments. Alan Shanks, a member of the investors' steering group set up to recover client money, told IFAonline that the majority, who were mainly so...