In an ASIC release, the corporate regulator said it was concerned the PDSs for the Trident Global Growth Fund and the Trident Income Plus Fund, which AMH manages as the responsible entity, both contained a misleading statements.
According to ASIC the PDSs for the two funds claimed up until October 2013 that the majority of the fund’s asset were held by the fund’s custodian when the majority of assets were actually held in an AMH trading account with the fund’s prime broker.
ASIC Commissioner Greg Tanzer said, “PDSs are key documents which investors used to make important financial decisions. They must be accurate.”
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