Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 231 results for "Master Fund"

Inquiry rips into Diversa: 'All profit, no responsibility'

KARREN VERGARA  |  MONDAY, 7 SEP 2026
... inquiry that criticised its governance and structural problems, particularly its role in the failed First Guardian Master Fund, in which members invested about $240 million. At the recent Parliamentary Joint Committee on Corporations and Financial Services ...

Sequoia revokes dividends, chief financial officer exits

RIDDHIMA TALWANI  |  MONDAY, 31 AUG 2026
... $124.1 million in the previous year. Sequoia said the business was directly affected by the First Guardian and Shield Master Fund failures, attributing the decline largely to the reduction in adviser numbers from 294 in July 2025 to 110 June 2026. The ...

Sequoia gives InterPrac sale a second shot

ELIZA BAVIN  |  THURSDAY, 27 AUG 2026
... would have seen the Sequoia group of entities divest itself of liabilities stemming from the Shield and First Guardian master fund collapses.

AFCA moves to reinstate APT Strategy, opens doors for victims

KARREN VERGARA  |  THURSDAY, 27 AUG 2026
... Empathising with former Australian Fiduciary and APT Strategy clients, Melinda Kee, a victim of the failed First Guardian Master Fund commented: "This has been a long and complicated process for Australian Fiduciaries investors, and I'm genuinely pleased ...

Netwealth profit hit by First Guardian costs

VINNY VUCAGO  |  WEDNESDAY, 26 AUG 2026
... FY26, though its statutory result was weighed down by $74 million in after-tax costs related to the First Guardian Master Fund collapse. The platform provider incurred a $71 million post-tax compensation charge for affected members, alongside $3 million ...

Second bidder emerges for Equity Trustees

MATTHEW WAI  |  MONDAY, 24 AUG 2026
... following two ASIC lawsuits alleging failures in care, skill and diligence in the recommendation of the First Guardian Master Fund. Equity Trustees has since announced that it is defending against the claims. ASIC alleges EQT failed to exercise the same ...

First Guardian victims advance in case against InterPrac

KARREN VERGARA  |  FRIDAY, 21 AUG 2026
Two victims of the First Guardian Master Fund linked to InterPrac Financial Planning, who collectively lost $465,000, have won a small victory in the Federal Court. Justice Beach on August 13 ordered InterPrac to pay the sums, which were calculated ...

Trustees, platforms, cyber risk under APRA spotlight

KARREN VERGARA  |  FRIDAY, 21 AUG 2026
Superannuation trustees, platforms and cyber resilience will be under more scrutiny in the 2027 financial year from the prudential regulator. APRA laid out its priorities in its newly published 2026-27 Corporate Plan, firing warning shots at trustees ...

Federal Court confirms Netwealth's First Guardian failures

MATTHEW WAI  |  FRIDAY, 21 AUG 2026
... Superannuation Services and Netwealth Investments contravened the Corporations Act in relation to the First Guardian Master Fund. ASIC commenced proceedings against Netwealth after accepting a court enforceable undertaking requiring it to compensate ...

APRA targets platform trustees, welcomes stronger powers

KARREN VERGARA  |  THURSDAY, 20 AUG 2026
... said it wants better oversight and accountability from platform trustees in the wake of the Shield and First Guardian Master Fund collapses, in which one or both sat on several platforms such as Equity Trustees and Netwealth. While the investment governance ...