Notice to Investors in the Shield Master Fund

ASIC issued an interim stop order on investments in the Shield Master Fund due to concerns about its management and associated risks to investors. ASIC later froze its assets and appointed an independent verifier, and noted that several financial advisory firms had recommended the fund to clients.

On 7 February 2024, ASIC announced that an interim stop order had been issued for the offering of investments into the Shield Master Fund, a registered managed fund promoted by Keystone Asset Management Ltd.  According to ASIC, this step was taken due to concerns about the management and operation of Shield Master Fund and the associated risks to investors.

ASIC has since taken further steps freezing the assets of Shield on 18 June 2024, and appointing an independent party to verify payments made from Shield Master Fund.

ASIC also raised that it is aware that financial advisors from the following financial firms provided financial advice recommending that clients invest in Shield Master Fund.  These companies include:

  • Interprac Financial Planning Pty Ltd
  • MWL Financial Services Pty Ltd
  • Financial Services Group Australia Pty Ltd
  • Next Generation Advice Pty Ltd

According to articles written by ABC News, clients of a company called AGAT Business (a call centre calling themselves superannuation detectives) and financial planning firm Venture Egg have also raised complaints around advice and recommendations to invest into the Shield Master Fund.

If you were advised to invest in the Shield Master Fund by AGAT, Venture Egg or your financial advisor, we ask that you contact Financial Dispute Legal to discuss your circumstances and consider any rights to recover compensation on 1300 433 533 or enquiry@fdlegal.com.au

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