The nation’s largest for-profit superannuation fund, MLC, has been selling Australian stocks because of stretched valuations, saying there are better returns on offer overseas and in derivatives markets.
Chief investment officer Dan Farmer, who oversees the super fund’s $150 billion in assets, said on Tuesday at an MLC event that ASX-listed companies “just don’t have that same underlying or thematic strength” that some of the US technology companies do.
Source: https://www.afr.com/markets/equity-markets/mlc-sells-australian-equities-saying-it-sees-better-returns-offshore-20251028-p5n5uw