Fund managers lambast Macquarie on fund axing
Macquarie is set to close 243 funds to new investments and all automated plans on 31 March 2026 on its super platform.
Fund managers have slammed Macquarie Group after being blindsided by its move to cut 243 funds from its superannuation platform, with some raising doubts over the reasons for the cull.
Wilson Asset Management (WAM) chair Geoff Wilson said the move was “naive” and they did not give managers an explanation. WAM is set to have eight funds removed from the Wrap platform.
“It's incredibly disappointing that a company that I have viewed as being very entrepreneurial and agile has gone the way of the dodo,” Wilson told Capital Brief.
“It’s naive and illogical for a company that appeared to be focused on innovation,” he said.
