Macquarie CEO Reflects on Lessons Learned as Funds Are Reinstated
Shemara Wikramanayake, CEO of Macquarie Group, acknowledged that the company has taken valuable lessons from the Shield Master Trust collapse. The financial services firm has quietly reinstated 40 funds on its super wrap platform that were previously removed following the incident.
Background on Fund Removal
Last month, Macquarie removed 243 funds from its super wrap platform amid growing regulatory concerns. The decision aimed to protect Macquarie's customers from potential fallout after the Shield Master Trust collapse.
Funds and Managers Reinstated
The reinstated funds include those managed by prominent firms such as Allan Gray, Orbis, and Vanguard. Specifically:
- Allan Gray – 4 funds
- Orbis – 1 fund
- Milford – 2 funds
- Acadian – 4 funds
- Baillie Gifford – 1 fund
- Lazard – 9 funds
- Vanguard – 1 fund
- WCM – 2 funds
Other managers had partial reinstatements, including:
- VanEck – 9 funds
- Global X – 4 funds
- BetaShares – 2 funds
- Zurich – 1 fund
"Macquarie Group chief executive Shemara Wikramanayake has admitted that the financial services giant has learnt lessons from the collapse of the Shield Master Trust."
The move to reinstate funds helps rebuild confidence with major Australian fund managers and customers after the initial removal caused disruption.
Summary
Macquarie Group has reversed its earlier decision by reinstating 40 funds on its super wrap platform, reflecting a careful, informed response following the Shield Master Trust collapse.
Author's note: Macquarie’s cautious reinstatement of funds shows its adaptive approach in managing risks after the Shield Master Trust fallout, balancing regulatory demands and client confidence.