Asian Pension Funds Cut Back on Stocks as U.S. and China Fight
- Australia’s largest fund to cut exposure over next 12 months
- Moves add to pullbacks worldwide as China, U.S. tensions grow
People are reflected in a glass while looking at electronic boards displaying stock information.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Pension funds across the Asia Pacific region are limiting their stock holdings as fears mount of a global slowdown and a trade war between the U.S. and China.
Australia’s largest pension manager will cut its equities exposure over the next 12 months, moving more money into fixed income and cash. A Thai fund will avoid developing countries’ shares and bonds, and a Philippines counterpart is balking at investing in its own nation’s stock market.