03.03.2016 - Asia: Sovereign funds adapt to new environment
If the smartest money invests for the longest term, then recent evidence suggests that its managers got ahead of the market downturns that have blighted the start of the year. Sovereign wealth funds that have reported their year-end allocations for 2015 – that is, not many of them yet – show a clear reduction of risk appetite. Australia’s Future Fund, with A$118.4 billion ($85.3 billion) under management at the end of 2015, made big reductions in stocks last year. By December 31 only 6.5% was in Australian equities, compared with 8.8% a year earlier; only 17.2% was in global developed market equities, compared with 20.9%; and 7.3% in emerging market equities, compared to 9.4% a year earlier..............................................Full Article: Source
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