The Federal Court has appointed receivers to two more entities linked to Australian Fiduciaries Limited and imposed asset-freezing orders, as the corporate watchdog deepens its probe into the investment manager’s operations.
On 4 September, following an application by ASIC, the Court named Matthew Charles Hudson and Terry van der Velde of SV Partners as receivers to SRI Fiduciaries 2 Pty Ltd and SRI Fiduciaries 3 Pty Ltd, both related to Australian Fiduciaries. The orders include freezing the assets of the entities.
The move follows the Court’s appointment of the same receivers and the imposition of similar freezing orders over six other related entities on 2 September. The receivers have been directed to investigate how invested funds were used and to report back to the Court within 45 days.
ASIC said it acted due to concerns about the recoverability of funds invested into the related entities. With the latest orders, Australian Fiduciaries and 30 related entities are now either in liquidation, subject to Court orders or undertakings to preserve assets, or have Court‑appointed receivers.
The regulator first applied to the Federal Court on 13 June seeking asset preservation orders and the appointment of receivers to Australian Fiduciaries and numerous related entities. ASIC understands around 600 Australian retail investors have put approximately $160 million into managed investment schemes offered by Australian Fiduciaries since February 2020, predominantly via self‑managed super funds. The group ceased distributing units in the schemes in September 2023.
ASIC’s application sought to preserve scheme assets and obtain a clearer picture of the financial position of Australian Fiduciaries and its schemes while its investigation continues. The probe is examining alleged inadequate management of conflicts of interest; the way units were sold and how funds were invested into a complex group of entities controlled by related parties; suspected failure to conduct regular valuations; and loss of value in underlying assets.
The Court’s written judgment and orders dated 4 and 11 September 2025 have been published. The original orders made on 2 September were later vacated and replaced with updated orders on 11 September.
Further information, including a full list of entities subject to orders, is available on ASIC’s website.
