The Australian Securities and Investments Commission (ASIC) has advised investors to take a cautious approach to the market futures market after losing their money market futures account due to the severe cash crunch.

In an advisory published on Wednesday, ASIC advised that the current cash crunch, which is forcing Australians to close their money markets funds, could force investors to withdraw their money.

“The current cash situation will force some Australians to withdraw funds from their money manager account, which could result in a cash loss of approximately $1,500,” ASIC’s interim chairwoman, Helen McVicar, said in a statement.

“We are advising clients to carefully consider their options in the short term before deciding whether to invest in a market futures fund or not.”AAP/ABC