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2.financial advice, 2.Strategy

1 Dec 2022 (AFR) – More funds fall foul of ASIC over dodgy marketing

(1 December 2022, AFR, p28, Emma Rapaport, Markets reporter) – I have said before that I don’t invest in managed funds, after having an adverse experience at the time of the 1987 stock market crash (but that is not advice, and is not a recommendation for you to do likewise). Following are some snippets from an interesting article in the AFR paper this week.

“Allan Gray, Perpetual and Eley Griffiths have been included on a list of investment firms rebuked by Australia’s corporate watchdog after ongoing surveillance raised concerns about how funds are marketed to investors….

“They also agreed to amend their compliance plans to “enhance their approval and ongoing supervision of fund marketing…”

“The action follows similar interest taken by ASIC in September against 13 managed fund providers and trustees including BetaShares and Collins St Asset Management.”

Read the full article at AFR.com.

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