EQT hit with ASIC penalty over misleading investment statements

Mike Taylor

Managing Editor and Publisher

19 June 2025

Equity Trustees has been hit with a $56,340 penalty imposed by the Australian Securities and Investments Commission (ASIC) over its role as the responsible entity for the Artesian Green and Sustainable Bond Fund and making misleading statements about the fund’s investments.

ASIC announced that between 10 April and 7 November, last year, the fund’s product disclosure statement (PDS) target market determination and website stated that the fund invested in green, sustainable and social corporate bond issued by companies.

However, it said that the time the fund had significant exposure to government and superannuational bonds (not issued by corporations) which were inconsistent with its declared strategy and objectives.

ASIC deputy chair, Sarah Court said a responsible entity had to have measures in place for ensuring it complies with its obligations as a financial services licensee.

“These include having adequate governance controls and procedures to ensure that disclosures made in relation to investments by managed investment schemes are accurate and are not misleading,” she said.

“ASIC’s action should serve as a reminder to trustees that they need to ensure they take their investment governance responsibilities seriously.”

Equity Trustees paid the infringement notices on 13 June 2025. Payment of an infringement notice is not an admission of guilt or liability.