Praemium added $283m First Guardian exposure from OneVue acquisition
Praemium had a $286 million exposure to First Guardian, most of which was picked up from its acquisition of OneVue from Xplan owner Iress that took place at the same time ASIC commenced investigations into the troubled master fund. Meanwhile, ASIC continues its work into investigating the collapsed Shield and First Guardian funds, with an MWL adviser receiving an eight-year ban for inappropriately advising clients to invest in Shield.
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