Macquarie CEO admits 'learning' experience as it reinstates 40 funds on super platform
Shemara Wikramanayake says the financial services giant has learnt lessons from the Shield Master Trust collapse as it quietly reinstated products from the likes of Allan Gray, Orbis and Vanguard.
Macquarie Group chief executive Shemara Wikramanayake has admitted that the financial services giant has learnt lessons from the collapse of the Shield Master Trust, as it quietly restated 40 funds removed from its super wrap platform as a consequence of that incident.
Last month, Macquarie upset several big name Australian fund managers after it axed 243 funds from its super wrap platform in response to growing regulatory scrutiny over concerns Macquarie customers could become collateral damage in the Shield Master Trust collapse.
Today, the list was shortened. Among the managers that had all of their funds reinstated were Allan Gray (four), Orbis (one), Milford (two), Acadian (four), Baillie Gifford (one), Lazard (nine), Vanguard (one) and WCM (two).
Managers that had some funds reinstated were VanEck (nine), Global X (four), BetaShares (two) and Zurich (one).
