Australia’s A$4.1 trillion pension industry has a perception that US stock valuations are stretched. — Bloomberg
SYDNEY: The top funds in Australia’s A$4.1 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.
