Australian Pension Giant Will Cut Exposure to Stocks
Australia’s largest pension fund says it will cut exposure to equities as the current global growth cycle gets closer to ending and escalating trade tensions weigh on the economy.
Returns from equities will be limited by the Federal Reserve continuing to tighten policy and a persistence of trade war concerns, according to Mark Delaney, AustralianSuper Pty.’s chief investment officer. The money manager that oversees A$140 billion ($104 billion) will cut its allocation to shares to about 55 percent from about 62 percent during the coming 12 months, moving more money into fixed income and cash, he said.
Read More: Bloomberg
