ASIC has suspended the Australian financial services (AFS) license of Quantum Funds Management Limited (QFML) until 15 October 2023.

QFML is the responsible entity of the following registered managed investment schemes:

Quantum Mortgage Trust (ARSN 095 909 096)
Quantum Residential Property Trust (ARSN 1695 569 335)
Quantum USA Residential Property Fund (ARSN 150 434 138), and
Quantum Strata Scheme No. 14 (ARSN 115 998 733).
The license was suspended because QFML does not have the required professional indemnity insurance coverage. The license suspension allows QFML to provide financial services reasonably necessary for, or incidental to, the winding up of the schemes except the Quantum Strata Scheme No. 14 (Scheme 14), which is not being wound up. Investors in Scheme 14 should contact QFML for further information.

Under the suspension, QFML must have a dispute resolution system in place through the Australian Financial Complaints Authority membership.

QFML may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.