Business · Companies · 18 hrs ago
Australia Halts Angas Securities Funds Over Investor Risk Concerns
Australia’s securities regulator temporarily stopped Angas Securities from selling two investment funds.
The Adelaide-based firm cannot offer, issue, sell or transfer interests in the Angas Prime Income Fund or the Angas Direct Mortgage Fund under interim orders.
The regulator is concerned investors may not have been fully informed about the firm’s financial position and related risks.
For the Prime Income Fund, those concerns include its exposure to the collapsed Bathla Group and the risks linked to that exposure.
Bathla’s insolvency has put private credit funds under scrutiny, as the Sydney property developer owed about A$3.4 billion, mostly to such funds.
ASIC said Angas held about A$114 million in investor funds at the end of June and warned fund managers to give investors clear, timely information about risks.
ASIC is expected to update its review of private credit on November 10 and said it would continue scrutiny and act where investors may not have the full picture.
Australia’s securities regulator has temporarily stopped Angas Securities from selling two managed investment schemes.
The Australian Securities and Investments Commission said investors may not have been adequately informed about the firm’s financial position and related risks.
It also raised concerns about disclosures on the Angas Prime Income Fund’s exposure to the collapsed Bathla Group.
The orders cover the Angas Prime Income Fund and the Angas Direct Mortgage Fund.
ASIC said it would continue its scrutiny of private credit funds.
- Who
- The Australian Securities and Investments Commission ordered Angas Securities Ltd. to stop offering the funds.
- What
- Interim orders prevent Angas Securities from offering, issuing, selling or transferring interests in two managed investment schemes.
- When
- The orders were announced on Monday; the article was published on Nov. 8, 2026.
- Where
- Angas Securities is based in Adelaide, Australia.
- Why
- ASIC was concerned investors may not have been adequately informed about Angas Securities’ financial position and the risks, including the Prime Income Fund’s exposure to the collapsed Bathla Group.
This story does not have two clearly opposing sides.
Sydney property developer Bathla fell into insolvency, owing around A$3.4 billion, mostly to private credit funds.
ASIC announced interim stop orders against Angas Securities’ two funds.
ASIC was expected to publish an update of its private credit surveillance.
- Funds affected
- Angas Prime Income Fund and Angas Direct Mortgage Fund
- Firm location
- Adelaide, Australia
- Bathla debt
- Around A$3.4 billion, mostly to private credit funds
- Angas investor funds
- About A$114 million at the end of June
- Expected ASIC update
- Nov. 10
What people are saying
Our message to private credit fund managers is crystal clear,
Investors need clear and timely information about the risks they are taking on, particularly when circumstances change and private credit loans run into difficulty.