Gordon Legal is investigating a potential class action for investors in First Guardian and Shield Master Funds, following their collapses between 2024 and 2025.

If you invested in either or both funds and suffered loss because of the collapse, you can register for updates below.

Our experienced legal team is gathering information to assess whether investors were misled or failed by those responsible for managing and promoting these investments.

The First Guardian and Shield Master Funds were managed investment schemes that collapsed during 2024 and 2025, leaving over 12,000 investors at risk. Many of these investors were told by financial advisors to invest in these products.

Investors affected include those with investments made via platforms managed by Equity Trustees Superannuation Limited, Netwealth Superannuation Services Pty Ltd, Diversa Trustees Limited, and Macquarie Investment Management Ltd.

We are investigating whether:

• Investors were misled about the nature or risks of the investment.
• There has been a failure to comply with financial services laws.
• There are grounds for compensation through a class action.

If our investigation confirms that a class action is viable and proceedings are commenced, affected investors may be entitled to recover some or all of their losses.

If you invested in either First Guardian and/ or Shield Master Funds, you should register your interest.

You will receive updates on the investigation and be notified if a class action is launched.

Call us on 1300 56 50 16 or register online below.