I think inspecie transfers result in CGT for super as change in beneficial owner. All fine for an investment account (IDPS). I could be wrong but that’s my understanding.

@Mujo In my case - SMSF (with corporate trustee) portfolio and a company portfolio both going from one platform to another - beneficial owner didn't change in either case and there was no CGT event from the move. Still the same SMSF/Trustee company or private company owns the holdings. Only the custodial platform changes.

I can't speak for others, but that was my experience. However, if you move shares out of a SMSF and into your own hands, then yes, that's a change of ownership and CGT would apply.

Oh yes, i think because you hold an IDPS within the SMSF. So yep you avoid the issue.

The issue is where the platform is the RE for a super/pension account

@Mujo Interesting that you mentioned AEF

Is there any reference tying AEF with Macquarie platform I can read? Or is AEF one of many other funds managers using Macquarie. I'm still fairly new to how these wealth platforms work

I also remember reading about HUB rejecting Shield after they did own DD of the fund.

AEF has retail funds on Macquarie Wrap. Every australian fund manager is being removed except a select few on the macquarie private high conviction list from the rumour. I don’t expect it to be material for AEF but may have a small impact.

HUB avoided it yes, though i did ask their reasons and personally sounds a bit more like luck from what they said. All seemed to have been a bit suspicious but got greedy given the current FUM grab.

I found this article about Hub24 talking about increased regulatory powers after the Shield collapse

https://www.professionalplanner.com.au/2025/10/avoid-over-zealous-regulatory-response-to-shield-first-guardian-hub24/

Also HUB gave an update today and is up around 7-9%. Hub24 has to be one of the best set and forget stocks I currently have!

@Mujo i would be extremely surprised if MQG are exiting profitable and regulatory clean funds off their menu. I suspect that the Shield event? has driven a review of the total menu. i dont know how many are on there but im guessing a lot. a clean out of small and unused products makes sense. i would be interested to know how many are large cap active aussie equities, which has struggled for years. when i worked in the industry the platforms wanted your funds to pull volume, if not, they could knock you off, which was a bit of a death knell. glad im out of that. missing Shield, no bonuses for those guys this year

just adding a bit more, when they remove a fund they will look at the alternatives, so keep an option which is larger and more profitbale/popular and get rid of the one not pulling funds. so they are, imo not exiting the growth funds but the risky/low volume ones. the pitch is that advisers will move to the closest alternative fund/ manager and keep on the platform. moving platforms is a bigger deal than changing to a new / better manager.

@Solvetheriddle it's already been communicated to most fund managers that they're being removed. I know for a fact the entire product suite of Pinnacle/Channel/Yarra/Magellan/Copia have been removed. Some had $200M to $400M in some of the funds. They're all now trying to get meetings with Macquarie to make their case. I believe Macquarie called in consultants to help hence the overreaction. This is just phase 1 with the funds just initally being soft closed and for it come into effect in late November.

Feedback is this might be a wind back as the fund managers are threatening to boycott Macquarie for other services such as FX, trading, cap raisings etc so the other areas of Macquarie are screaming.

AFR article

Macquarie plans to purge funds with under $300b from pension platform

Macquarie is targeting asset managers with assets below $300 billion for potential removal from its pensions and super investment platform, raising the ire of its brokerage and financial planning clients who are threatening to take their business elsewhere.

The financial services group moved in September to block users of its $164 billion wealth platform from investing more money in about 80 funds, including several domestic and international private credit funds.

Macquarie is removing funds from its wealth management platform after being scrutinised by regulators over its role in the collapsed Shield Master Fund. Bethany Rae

But multiple people briefed on the plan, speaking on condition of anonymity because they were not permitted to comment publicly, said at least 500 investment options have been flagged for removal. The move is believed to be a response to Macquarie’s decision to repay $321 million to 3000 clients who invested in the Shield Master Fund before it collapsed.

Macquarie is said to have contacted fund managers last Thursday, informing them of its intention to remove products offered by firms with less than $300 billion of assets. That threshold would have led to the removal of hundreds of options and left all but a small handful of managers on the platform, almost all of which are large global players.

Under the criteria, even investment products offered by large ASX-listed groups such as Challenger, Pinnacle, Perpetual and Magellan Financial faced the prospect of new superannuation flows being blocked.

Macquarie has flagged it intends to “simplify our super investment menu by reducing the number of investment options available” with the changes taking effect on November 21. As of Tuesday, Macquarie had yet to inform asset consultants and financial planners of the changes.

But the proposed move has led to widespread confusion and sparked anger among investment advisers, brokers and fund sales staff as almost all funds managed in Australia face exclusion from the platform.

“There have been a wave of protests from advisers,” said one funds management employee, who declined to be named. “Their value proposition is that they have a [sense of] rigour and a process to pick fund managers.”

The changes, which have yet to be finalised, are also threatening to spill over into Macquarie’s equities trading unit.

Several sources said some fund managers, who are likely to be removed, have expressed their dissatisfaction with Macquarie’s equity brokers and have contemplated sanctions.

The platform is split into super investments, made by advisers on behalf of retail clients, and the larger investor-directed portfolio service which accounts for the majority of assets. That second portfolio service is used for self-managed super funds and no changes are being made to its menu.

A Macquarie spokeswoman said the group was reviewing a range of options. An estimated 85 per cent of assets under administration in super investments would be unaffected by the move, she added.

But financial planners say they will not be able to allocate super contributions into existing investments that are removed from the menu. Planners also cannot move client assets to an alternative super and pension platform without changing trustees, triggering a capital gains tax event.

In September, Macquarie blocked several high-profile Australian equities funds from taking new investments on its super platform, including Forager Funds Management’s 16-year-old Australian shares fund, as well as funds overseen by DNR Capital, Perennial, Pengana Capital and Merlon Capital Partners.

At the time, Macquarie cited a lack of interest in investment options as the reason for the majority of those changes. It also removed 11 private credit funds, including ASX-listed products, but did not provide a reason.

The removal of fund options comes after Macquarie reached an agreement with the Australian Securities and Investments Commission to pay out investors in the Shield Master Fund, a collapsed strategy that was available on its super platform. The failures of Shield and First Guardian, which were also available on other platforms, have led to losses of more than $1 billion.

Last month, Macquarie said it was committed to making “further improvements to the investment governance processes on its wrap platform in accordance with a formal plan agreed with the Australian Prudential Regulation Authority”.

These improvements, together with its co-operation with regulators, meant it was not likely to be subject to any further penalties, Macquarie said.

Last update - apparently macquarie has caved and has reversed its decision to remove most funds.