First Guardian Master Fund ARSN 635 429 113 (First Guardian) is a registered managed fund promoted by Falcon Capital Limited ACN 119 204 554 (Falcon Capital), Responsible Entity for First Guardian.

Equity Trustees is the trustee for Freedom of Choice – a division of AMG Super (Fund). First Guardian is an investment option that was offered via New Quantum Super and Pension, a former division of the Fund. New Quantum Super and Pension was wound-up and investments were transferred into the Freedom of Choice division of the Fund on 1 February 2025.
 

On 27 May 2024, withdrawals from First Guardian were suspended by Falcon Capital as the Responsible Entity due to outstanding corporate actions and, a restructure of the Fund. The date on which Falcon Capital Limited anticipated these matters would be completed in time for the suspension to be lifted changed from 1 August 2024, to 30 September 2024, to the last quarter of 2024.

On 28 February 2025, the Australian Securities & Investments Commission (ASIC) announced that it had obtained interim orders in the Federal Court of Australia freezing the assets of Falcon Capital, First Guardian, and Mr David Anderson, Director of Falcon Capital (Freezing Orders).

On 17 March 2025, ASIC applied to the Federal Court for the appointment of liquidators to Falcon Capital, orders directing the liquidators to wind up First Guardian, and the appointment of a receiver and manager to the personal property of Mr Anderson.

The Matter was heard before the Federal Court on 9 April 2025 where the Federal Court granted ASIC’s application and ordered that Falcon Capital and First Guardian be wound up on just and equitable grounds. Ross Andrew Blakeley and Paul Stuart Harlond of FTI Consulting were appointed as liquidators of Falcon Capital.
 

ASIC has set up a dedicated webpage where you can find more information at: https://asic.gov.au/about-asic

FTI Consulting have also set up a dedicated website for investors at https://www.fticonsulting.com/creditors/falcon-capital-limited