$1m in super to nothing: First Guardian victims speak out
Peter Spencer-Franks and his wife had a $1m savings pot and planned to retire last year. With the First Guardian collapse, retirement may no longer be an option | WATCH
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ASIC’s seven-month delay in First Guardian investigation
Both the Shield and First Guardian funds had significant exposure to failed property developer Paul Chiodo, but one was investigated much earlier than the other.
Investors tipped into Shield, First Guardian funds without consent
Victims say financial advisers put their money into Shield and First Guardian without their knowledge, risking $1bn of wealth. Others were allocated to James Hird’s Euree, a top performing fund which has honoured all redemption requests.
First Guardian founder boasted of ethics in unearthed podcast
‘If you’re not going to put your mum’s money in it, why would you put in someone else’s?’ Falcon Capital founder Simon Selimaj said to prospective investors in the First Guardian Super Fund.
$450m Ponzi scheme: First Guardian investors left with nothing as luxe spending exposed
First Guardian investors could lose all their super savings, as directors splashed out on a $9m mansion and Lamborghini while pumping client money into illiquid assets and channelling $242m offshore.
End of an era for Platinum as L1 merger moves forward
Kerr Neilson’s Platinum will be renamed as part of a $16.5bn merger that will see L1 try to turn around the fund manager’s chronic underperformance and outflows.
ASIC eyes action as millions lost in collapsed Shield, First Guardian schemes
ASIC is looking at options for holding Macquarie and Equity Trustees to account over failed schemes which 12,000 investors tipped about $1bn into over a two-year period.
‘100 different taxes. How stupid is that?’ AusSuper’s take on productivity
The CEO of the nation’s largest super fund has defended sending billions of dollars of members’ money offshore, saying US companies offer better returns as he urged tax reform to make Australia more competitive.
AusSuper lags peers but still bullish on unlisted assets
Superannuation giant AustralianSuper looks to have delivered the worst performance of the major funds for the financial year, as listed equities once again powered returns elsewhere.
Insurers score as costs drop after price hikes
Insurance major IAG says lower perils costs will mean higher profits, while Suncorp is keeping shareholders guessing on its return of excess capital.
Original URL: https://www.theaustralian.com.au/author/cliona-odowd/page/2