‘How not to run an ESG fund’: ASIC acts on closed Fiducian product
ASIC has sued the asset management arm of ASX-listed licensee owner Fiducian Group over allegations of misleading and deceptive conduct about a now-closed ESG fund. Investors had raised concerns about investments into mining companies, which ran contrary to the values described in the PDS, while the fund continued to distribute such documents for nine years after concerns were raised.
Compliance