Capita Financial Managers (CFM) is suspending the collection of the AMC on the Arch Cru funds, which will have a knock on effect on trail commission paid to IFAs.
The suspension applies to fees accruing from 1 April 2009, pending the outcome of CFM's ongoing review of the funds. This includes an audit of the valuation of the underlying holdings in the funds which were suspended in March. Collection of all other charges calculated by reference to the net asset value of the funds, such as depositary, custody and accounting fees, will also be suspended. Capita says it will re-assess the position in relation to the various suspended fees following the outcome of its review, which could take a number of months to be completed. This could include, ...
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