Macquarie restores 88 funds to super platform after investor push
Fund managers say Macquarie’s reinstatement process was lengthy, with advisers and clients playing a decisive role in pushing for choice.
Macquarie has significantly walked back the number of funds slated to be axed from its superannuation wrap platform, quietly reinstating another 88 funds to its investment menu following campaigns from investors.
In October, Macquarie decided to remove 243 funds from the platform by 31 March, prompting an outcry from fund managers. Now, only 80 funds remain on the cull list.
“To help advisers and their clients manage the transition to our simplified super investment menu, some additional funds will be retained on the platform but with a reduced investment limit,” a Macquarie spokesperson told Capital Brief.
The change was made as part of an effort to improve governance following the collapse of Shield Master Trust, which had been available as an investment on Macquarie Wrap.
