Investors in the failed Arch Cru fund range have received a further return of their capital of £17.6m as the directors now at the helm wind down the company.
Spearpoint - now Brooks Macdonald Asset Management International - which took over the management of the cells three years ago, have returned to investors over that period a total of £136.4m, including £63m returned last year. However, Spearpoint chairman Hugh Aldous warned in his statement on the state of the cells for the year ending 31 March that the rate of realisation of cash from some of the funds' assets will "begin to slow as we move towards the tail end of the portfolio where maybe £25m is pretty illiquid". Net assets in the cells total £81.1m, down from £114m last year. A...
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