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ASIC has filed a suit against Active Super over greenwashing claims, alleging, among other charges, that the super fund was invested in Russian assets after the invasion of Ukraine while purporting otherwise to members.
ASIC's latest action against Vanguard for allegations of greenwashing in a bond fund raises the question of whether the market regulator will crack down on index providers and other third-party service providers for greenwashing as well.
Long-term bond ETFs can offer investors higher yield options, and a pair of Vanguard funds cracked a Forbes Advisor Top 10 List.
The first half of 2023 saw rising yields work in favor of fixed income funds, according to data from Morningstar.
ASIC has lodged civil penalty proceedings in the Federal Court against Vanguard Investments Australia for alleged greenwashing, having previously issued the asset manager with three infringement notices last December.