Goldman, BofA Target Australian Pensions for Hedging Business

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 38 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 57%
  • Publisher: 63%

Bloomberg News

Bank Of America,Pension Funds,Goldman Sachs

(Bloomberg) -- Wall Street banks are jostling for business from Australia’s pension funds as the world’s fastest-growing pool of retirement savings looks to ...

-- Wall Street banks are jostling for business from Australia’s pension funds as the world’s fastest-growing pool of retirement savings looks to hedge its chunky overseas investments.Mark Zuckerberg’s Wealth Exceeds Elon Musk’s for the First Time Since 2020

The two giants of Australia’s A$3.6 trillion pension industry — the world’s fourth largest — are emblematic of its rapid expansion, which far exceeds peer markets. The nation’s pension assets are forecast to more than triple to A$13.6 trillion by 2048, according to a Mercer report last month. “Interest-rate cuts can further brighten the global economic outlook which is a positive for commodity prices,” she said.

“Given an increasing focus on offshore investing, FX hedging as a proportion of the fund has grown,” said Andrew Fisher, head of investment strategy for ART. The shift has occurred across the industry, and is amplified among the biggest pensions, he said.Bond Traders See 4.5% Yields as Next Test as Focus Shifts to CPI

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman, BofA Target Australian Pensions for Hedging BusinessWall Street banks are jostling for business from Australia’s pension funds as the world’s fastest-growing pool of retirement savings looks to hedge its chunky overseas investments.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

BofA Says US Stocks Suffer Big Outflows in Runup to Fed Meeting(Bloomberg) -- US stocks saw hefty outflows in the runup to the Federal Reserve’s policy meeting that took the S&P 500 Index to fresh all-time highs.Most...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

BofA Says US Stocks Suffer Big Outflows in Runup to Fed MeetingUS stocks saw hefty outflows in the runup to the Federal Reserve’s policy meeting that took the S&P 500 Index to fresh all-time highs.
Source: BNNBloomberg - 🏆 83. / 50 Read more »