Arc Fund Management Holdings, which specialises in tax efficient investment products, has completed the acquisition of Nvesta plc, a UK-based structured product provider, for £410,000 in cash. Nvesta has estimated funds under management of £120 million, and in the 15 months ended Sept 30 2005 showed a loss of £112,000 on turnover of £1.2 million. Arc has placed 750,000 new ordinary shares at 20 pence each to help provide working capital for this acquisition. After the Nvesta buy, Arc will have £140 million of funds under management.