Prime Value’s AFS licence suspended by ASIC

Yasmine Raso

Senior Journalist

17 July 2026

Australian fund manager, Prime Value Asset Management, has had its Australian financial services (AFS) licence temporarily suspended by the Australian Investments and Securities Commission (ASIC) due to failing to meet its statutory audit and financial reporting obligations over two financial years.

The corporate regulator said the current suspension – in place until 7 August – concerned the fund manager’s failing to meet reporting lodgement obligations for the financial years ending 2024 and 2025.

ASIC also said a previous investigation found Prime Value had also “failed to meet financial resource requirements and lodge compliance plan audit reports for some of its retail schemes”, but these breaches have since been rectified.

The suspension restricts Prime Value from issuing interests in its managed investment schemes (MISs) to new investors, but ASIC confirmed the fund manager can “continue to provide financial services reasonably necessary for, or incidental to, the day-to-day operation or management of the Schemes and reinvestment of income distributions by existing investors”.

ASIC noted that Prime Value was within its rights to apply to the Administrative Review Tribunal for a review of the regulator’s decision.

Prime Value is the responsible entity (RE) of eight MISs:

• Prime Value Diversified High Income Plus Fund
• Prime Value Diversified High Income Fund
• Prime Value Enhance Income Fund
• Prime Value Emerging Opportunities Fund
• Prime Value Microcap Fund
• Prime Value Opportunities Fund
• Prime Value Equity Income Fund
• Prime Value Growth Fund

It also provides trustee services for 53 unregistered MISs and offers a wholesale managed discretionary account (MDA) service.