Cash Is Key Trump Trade for $96 Billion Australian Pension Fund
One of Australia's largest pension funds, UniSuper, is ramping up its cash holdings to near Covid 19-era levels as President Donald Trump's trade war roils global markets.
John Pearce, chief investment officer of the A$149 billion ($96 billion) fund, called cash the 'only risk-free investment' and said his firm was wary of the risk that a rise in US inflation could hit both stocks and bonds simultaneously.
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