The stewards of Australia’s multitrillion-dollar retirement pool have spent the past 14 months working out how they can profit from the endless volatility that has come with the return of Donald Trump to the White House, choosing to ride out repeated shocks – from war to tariffs – rather than make safer choices and hurt returns for their members.
Late last year, having made it through a turbulent market as the Trump administration announced tariffs, wheeled them back, then announced them again, Australia’s big superannuation funds doubled down on international equities, betting on another year of strong gains.
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