Good morning,

It is bordering on inconceivable that an entire investment industry - from platform operators to advisers - was in the dark about two rogue funds , where a collective $1bn in savings belonging to thousands of Australians has now been frozen or has disappeared, writes Eric Johnston.

Meanwhile, the contest for Lendlease’s flagship Australian property funds could result in the $10bn empire being broken up as more contenders are likely to emerge for the prime vehicles that the manager is desperate to keep. 

And Virgin Australia is under pressure from pilots and cabin crew to find a new layover hotel in Perth after complaints of dirty linen and excess noise - and in one instance no bed.