Latrobe Australian Credit Fund (12-month term account)

You may shortly receive notice that La Trobe Financial were recently issued with an ‘interim stop order’ for 21 days by ASIC for the LaTrobe Australian Credit Fund (12 month term account) due to concerns regarding their Target Market Determination (TMD).

ASIC’s concerns are that TMD for the Fund:

• suggests an inappropriate level of portfolio allocation given the risks of the Fund, and
• does not adequately specify an investment timeframe for retail clients.

I have attached a copy [CLICK HERE] of the TMD with the area’s I believe ASIC are referring to highlighted for your reference.

LaTrobe have advised the marketplace that these concerns are administrative in nature only, and that they take these concerns very seriously and are addressing them as a priority.

Both ASIC and LaTrobe have made sure to relay that these concerns are not regarding the quality of the investment itself, its returns or heighten any risk to you as their client.  However if actioned without appropriate advice, the investment may not be suitable to the investor’s circumstances.    It is important to note the interim stop ceases all new investment in the fund until it is lifted by ASIC.  It does NOT impact access to your investment in the fund if required during this time.

ACTION REQUIRED

*There is no action required*

Latrobe advised they expect to have this issue resolved quickly.

We continue to monitor this situation and should anything change we will be in contact accordingly.

Should you continue to have any concerns, please don’t hesitate to contact us.

Thank you
Brendan McKenzie  CFP® SSA™
Director
Golconda Group – Your Complete Wealth Specialists