The retail funds managed by Arch Group, the alternative asset management boutique focused on esoteric products such as private finance and wine portfolios, may be closed for a significant length of time after a majority of investors told the company they would prefer to be locked in than sell assets at distressed prices.

Cru Investment Management's range of retail portfolios, managed by Arch, last week announced that the funds were suspended due to illiquid markets, and its sales and marketing staff have since been made redundant. According to its website, it had previously raised over £400m (€430m).