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Jacob Shteyman

Macquarie to compensate investors in failed Shield fund

Macquarie SHIELD ASIC Sarah Court Financial Services Dan Himbrechts

Macquarie accepted fault for failing to place Shield on a watch list for heightened monitoring. (Dan Himbrechts/AAP PHOTOS)

Thousands of Australians who lost their retirement savings when investment fund Shield collapsed will be reimbursed by Macquarie, which oversaw investments in the failed superannuation scheme.

Macquarie accepted fault in the debacle for failing to place Shield on a watch list for heightened monitoring, despite overseeing $321 million in investments to the fund through its wrap platform.

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