Equity Trustees Limited has paid $56,340 to comply with three infringement notices issued by the Australian Securities and Investments Commission (ASIC).

ASIC alleged that Equity Trustees as the responsible entity of the Artesian Green and Sustainable Bond Fund made misleading statements about the fund’s investments.

Between 10 April 2024 and 7 November 2024, the fund’s product disclosure statement, target market determination and website stated that the fund invested in green, sustainable and social corporate bonds issued by companies.

However, at that time, the fund had significant exposure to government and supranational bonds (not issued by corporations), which were inconsistent with its declared strategy and objectives.

Equity Trustees paid the infringement notices on 13 June 2025. Payment of an infringement notice is not an admission of guilt or liability.

Managed investment schemes are a common investment vehicle in Australia. An estimated $2.7 trillion of assets is currently held in these investments. Of this amount, around $1.8 trillion in assets is held by schemes registered under the legislative framework set out in Chapter 5 of the Corporations Act. At the end of June 2022, there were 420 responsible entities operating a total of 3,656 registered schemes in Australia.