The Australian Securities & Investments Commission (ASIC) announced further steps to support investors affected by the collapse of the Shield Master Fund and First Guardian Master Fund, including a renewed push to help investors understand their options for making complaints to the Australian Financial Complaints Authority (AFCA). From 6 February 2026, ASIC will begin sending additional information directly to investors, linking to a dedicated consumer website. ASIC noted that fewer than 2,000 of around 11,000 investors who put approximately AUD 1.1 billion into the two funds have lodged complaints with AFCA. The new website, takeyoursuperback.com, was independently developed by Super Consumers Australia with funding from ASIC and provides guidance on lodging an AFCA complaint (including complaint deadlines) and accessing support services. ASIC also highlighted that around 4,000 consumers have received about AUD 421 million in payments from Macquarie and compensation from Netwealth under court enforceable undertakings, while ASIC continues work across 26 investigations involving nearly 50 staff into connected lead generators, advisers and authorising firms, superannuation trustees, auditors and managed investment scheme operators. Investors can expect further correspondence from ASIC in the coming weeks, and ASIC encouraged impacted consumers to consider lodging a complaint with AFCA, noting that compensation outcomes are not guaranteed.

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