Australian Pension Funds Shift Focus From US
Today's must-reads:
• Super funds look beyond the US
• Central banks' rate decisions loom
• Mushroom murder guilty verdict
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 has ended its overweight position in global equities, of which US shares make up the largest proportion. Colonial First State has tilted toward emerging markets.
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