Macquarie CEO Reflects on Lessons Learned as Funds Are Reinstated
Shemara Wikramanayake, CEO of Macquarie Group, acknowledged the company has gained important insights following the Shield Master Trust collapse. In response, Macquarie quietly reinstated 40 funds previously removed from its super wrap platform.
Background of Fund Removal
Last month, Macquarie removed 243 funds from its super wrap platform due to regulatory concerns that customers might be adversely affected by the Shield Master Trust failure. This decision caused dissatisfaction among several prominent Australian fund managers.
Reinstated Funds and Fund Managers
Today, Macquarie shortened the list of removed funds and reinstated several funds in full or partially from well-known managers:
- Fully reinstated: Allan Gray (4 funds), Orbis (1), Milford (2), Acadian (4), Baillie Gifford (1), Lazard (9), Vanguard (1), WCM (2)
- Partially reinstated: VanEck (9), Global X (4), BetaShares (2), Zurich (1)
Macquarie Group chief executive Shemara Wikramanayake said the company "has learnt lessons from the Shield Master Trust collapse."
This move signals Macquarie's effort to balance regulatory caution with client and fund manager interests.
Author's Summary
Macquarie CEO acknowledges lessons from a fund collapse while reinstating 40 previously removed funds on its super platform, addressing regulatory and client concerns.