Blue Sky was a fund manager that has let down its shareholders,...

Blue Sky was a fund manager that has let down its shareholders, those that invested in its funds and multiple foreign companies that trusted this company listed on the ASX.
ASIC should have been more vigilant and maybe its now time for shareholders to object to ASIC.

Blue sky received a fee for management of Funds.
If water fund and agriculture funds are to be removed and a new fund formed (Australian Alternative Asset Partners PTY LTD ).
What consideration is being paid as fair price to Blue sky for the transfer of management rights?

What was the current value of the assets transferred?

What management fees were paid to Blue Sky by the fund concerned before the transfer?


"A return to shareholders is not anticipated"
Is not exceptable. The above questions should have raised income?

I f fund has $3B in assets. Blue sky should have made $30m in management fees?


This is not good enough, shareholders should complain to ASIC.