Australia pensions in $2.7 Trillion industry shift focus from US
The top funds in Australia’s A$4.1 trillion ($2.7 trillion) pension industry are eyeing opportunities beyond the US, saying stock valuations there look stretched and President Donald Trump’s policies are increasing volatility.
AustralianSuper, the nation’s largest pension fund, has ended its overweight position in global equities, of which US shares make up the largest proportion, citing the geopolitical uncertainties caused by Trump’s changes. Colonial First State has tilted its portfolio toward emerging markets given its desire to diversify away from US equities, which it considers are expensive.
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