Australian regulator finds Macquarie Investment liable for van Eyk’s fund
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.

You can claim CPD minutes for this content, by signing up to our CPD Wallet

FREE CPD Wallet

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.