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Fiducian Group Ltd ( (AU:FID) ) has provided an announcement.
Fiducian Group Limited has announced that its subsidiary, Fiducian Investment Management Services Limited, is facing civil proceedings initiated by the Australian Securities and Investments Commission (ASIC) in the NSW Supreme Court. The case involves allegations of misleading statements in the product disclosure statement of the Fiducian Diversified Social Aspirations Fund and non-compliance with the fund’s compliance plan. The fund, which ceased operations in May 2024 due to insufficient scale, had $15.57 million in funds under management and delivered a 7.62% annualized return over nine years. Fiducian has cooperated with ASIC’s investigations and will continue to keep the market informed.
The most recent analyst rating on (AU:FID) stock is a Buy with a A$14.50 price target. To see the full list of analyst forecasts on Fiducian Group Ltd stock, see the AU:FID Stock Forecast page.
More about Fiducian Group Ltd
Fiducian Group Limited operates in the financial services industry, primarily focusing on investment management services. The company offers a range of financial products, including diversified funds, and is known for its commitment to providing tailored investment solutions to its clients.
Average Trading Volume: 25,883
Technical Sentiment Signal: Buy
Current Market Cap: A$412M
See more insights into FID stock on TipRanks’ Stock Analysis page.