The Australian Securities & Investments Commission (ASIC) issued three infringement notices to Equity Trustees Limited, alleging it made misleading statements about investments in the Artesian Green and Sustainable Bond Fund. Equity Trustees paid AUD 56,340 to comply with the notices. Between 10 April 2024 and 7 November 2024, the fund’s product disclosure statement, target market determination and website stated the fund invested in green, sustainable and social corporate bonds, but ASIC alleged the fund had significant exposure to government and supranational bonds that were inconsistent with its declared strategy and objectives. ASIC also pointed to the need for adequate governance controls to ensure disclosures about managed investment scheme investments are accurate and not misleading; payment of an infringement notice is not an admission of guilt or liability, and the notices have been published on the Credit and ASIC Act infringement notices register.
Australian Securities & Investments Commission 2025-06-19
Australian Securities & Investments Commission issues infringement notices to Equity Trustees over misleading Artesian Green and Sustainable Bond Fund disclosures
The Australian Securities & Investments Commission (ASIC) issued three infringement notices to Equity Trustees Limited for allegedly misleading statements about the Artesian Green and Sustainable Bond Fund's investments. The fund claimed investments in green, sustainable, and social corporate bonds, but ASIC found significant exposure to government and supranational bonds. Equity Trustees paid AUD 56,340 to comply with the notices, published on the Credit and ASIC Act infringement notices register. Payment does not constitute an admission of guilt or liability.