The Australian Securities and Investments Commission (ASIC) has issued an interim stop order preventing Murdoch Clarke Mortgage Management Ltd from offering, issuing, selling or transferring interests in the Murdoch Clarke Mortgage Fund. The action addresses concerns that the product disclosure statement (PDS) may be defective and fail to provide clear, concise and effective information to retail investors. The fund held AUD 573.2 million in net assets under management as of June 30, 2026. The concerns include missing information about related party transactions and inadequate disclosure of investment fees and costs. Risk information is considered insufficient and unclearly presented, while withdrawal details are not adequately or prominently disclosed. The order arose from ASIC’s surveillance of private credit funds, covering distribution to retail clients through direct and advised channels, alongside fees, margin structures and conflict management in wholesale funds. Findings from its second private credit surveillance will be released soon. ASIC will consider a final stop order if the concerns are not addressed promptly, with Murdoch Clarke able to make submissions before any final decision.
Australian Securities and Investments Commission imposes interim stop order on Murdoch Clarke Mortgage Fund over disclosure concerns
The Australian Securities and Investments Commission has imposed an interim stop order blocking offers, issues, sales and transfers of interests in the Murdoch Clarke Mortgage Fund. Its concerns involve disclosures about related party transactions, fees and costs, risks and withdrawals. A final stop order may follow if the concerns are not addressed promptly.