John Pearce, the veteran chief investment officer of $115 billion superannuation fund giant UniSuper, is only too aware that it wasthat helped him deliver members of the fund’s balanced option a 10.34 per cent return for the year to June 30.
But you’d be wrong. “One thing is here to stay and that’s a normal cost of capital curve. And I welcome it,” Pearce says, arguing it would be best for central banks to hold rates higher for longer “and let the economy work itself out”.
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