The Australian Securities & Investments Commission (ASIC) issued an infringement notice to Fundhost Limited, which paid AUD 19,800, alleging it made false or misleading representations about the performance of the Polen Capital Global Growth Fund. Between 15 March 2021 and 20 February 2025, a performance chart on the website of Fundhost’s agent and the fund’s investment manager, Montgomery Investment Management Pty Ltd, compared the Polen Capital Focus Growth Strategy Fund and the fund against the MSCI ACWI Net Total Return Index using data updated monthly by Fundhost. The chart combined the strategy and fund performance, presenting the fund as having outperformed the index since its inception on 15 March 2021 when ASIC alleged this was not the case; the chart did not appear on Fundhost’s own website. Fundhost paid the notice on 13 February 2026, and payment is not an admission of liability. ASIC noted the reasons for its concerns are set out in the infringement notice, which has been published on the infringement notices register.
Australian Securities & Investments Commission 2026-02-18
Australian Securities & Investments Commission issues infringement notice and Fundhost pays AUD 19,800 over misleading performance representations for Polen Capital Global Growth Fund
The Australian Securities & Investments Commission (ASIC) issued an infringement notice to Fundhost Limited, which paid AUD 19,800, for allegedly making false or misleading representations about the Polen Capital Global Growth Fund's performance. The performance chart, updated monthly by Fundhost, inaccurately suggested the fund outperformed the MSCI ACWI Net Total Return Index since inception. Payment of the notice is not an admission of liability.