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The Guardian - AU
The Guardian - AU
National
Luca Ittimani

Australians lost $1bn through collapsed investment funds. What happened and how can workers keep their super safe?

Australia ASIC SHIELD MySuper
Workers reflected in an office building's windows in Sydney
Some investors exposed to three major collapsed or frozen investment schemes – First Guardian, Shield Master Fund and Australian Fiduciaries – have seen their entire super balances wiped out. Photograph: Jason Reed/Reuters

Thousands of Australians have lost more than $1bn in retirement savings after the collapse of funds linked to their superannuation platforms, sparking warnings from the corporate regulator about risky investment schemes.

While only a small share of the population has been affected, some investors have seen their entire super balances wiped.

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