27 Jun 2016
Australian market regulator Australian Securities & Investments Commission (ASIC) said it has commenced proceedings against Macquarie Investment Management Ltd (MIML) as the responsible entity of the van Eyk Blueprint International Shares Fund (VBI Fund).
The proceedings involve investments of $30m made by the VBI Fund in 2012 into a Cayman Islands based fund, known as Artefact Partners Global Opportunities Fund (Artefact). The VBI Fund was one of the Blueprint series of funds of which van Eyk Research Pty Limited (now in liquidation) was investment manager, and MIML was responsible entity.
MIML has admitted to five contraventions of the Australian Corporations Act. Both the ASIC and MIML have agreed that Macquarie has failed to comply with its duties as a responsible entity.
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