What has happened

ASIC has suspended the Australian financial services (AFS) licence of Prime Value Asset Management Limited (AFS licence number 222055) until 7 August 2026.

Why the licence was suspended

The suspension was triggered by Prime Value failing to lodge statutory audit reports and financial statements for the financial years ending 2024 and 2025.

ASIC also found prior failures to meet financial resource requirements and to lodge compliance plan audit reports for some retail schemes. Those specific breaches have since been fixed.

What the suspension means

While the suspension is in place, Prime Value cannot take on new investors into its 8 registered managed investment schemes.

Prime Value can continue day-to-day management of existing schemes and can process income distribution reinvestments for current investors.

Prime Value's operations

Prime Value manages 8 registered schemes, including:

Prime Value also acts as trustee for 53 unregistered schemes and provides a wholesale managed discretionary account service.

Review rights

Prime Value may apply to the Administrative Review Tribunal to challenge ASIC's decision.

Further information

Updates on this matter are available at asic.gov.au. The original media release is at 26-161MR on the ASIC website.

This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.