8 September 2022 - Managed funds amend their marketing following ASIC surveillance
A recent ASIC surveillance found that some fund managers must do more to ensure the investment performance representations in their fund’s marketing materials are appropriate.
ASIC’s surveillance of managed funds’ marketing material identified a number of concerns, including inadequate warnings or disclaimers about past or future performance, comparing the product to lower-risk products, indices or benchmarks and the downplaying of other risks when promoting fund benefits.
‘In conveying our concerns to these responsible entities and trustees, we have secured timely and voluntary amendments to the funds’ marketing materials,’ Ms Chester said.
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