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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Costco (COST) Hits $1,000-Plus; Investors Renew Stock Split Talk
Costco Wholesale (COST, Financials) is back in the spotlight after its stock climbed above $1,000, sparking fresh debate over whether the warehouse retail giant might finally split its shares. The company hasn't done so since a two-for-one split in 2000. Warning! GuruFocus has detected 7 Warning Sign with COST. The stock has gained roughly 25% over the past 12 months and closed Friday near $1,040, joining a short list of S&P 500 companies with four-digit share prices. Oppenheimer analysts reiterated their bullish stance last week, raising the prospect of a potential split as a near-term catalyst. They assigned a $1,130 price target, above the Wall Street consensus. Costco's management hasn't ruled it out. CEO Ron Vachris said there was nothing to report at the company's January shareholder meeting. Chief Financial Officer Gary Millerchip said on a December earnings call that the availability of fractional shares has reduced the need for a split, but acknowledged it could make the stock feel more accessible to retail investors and employees. Despite the stock's strong performance, Costco remains one of the few companies of its size not to have split shares in over two decades, even as competitors like Walmart (WMT, Financials), and Amazon (AMZN, Financials) have done so more recently. The company did not respond to media inquiries about a potential split. See insider trades for COST. Explore Peter Lynch chart. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
E&E News
3 hours ago
- E&E News
Alaska LNG project developer touts $115B of global interest
A major natural gas project in Alaska has attracted more than $115 billion of interest from companies around the world, its lead developer said this week — but no specific deals were announced. Glenfarne Group, the majority owner of the planned Alaska LNG project, said the potential contract value covers everything from investments and customer agreements to services and equipment and materials. More than 50 companies that 'formally' voiced interest were from Japan, Taiwan, Thailand, Korea, India, the U.S. and the European Union, according to Glenfarne. 'The many expressions of interest received reinforce that the market recognizes Alaska LNG's advantaged economics, fully permitted status, and powerful federal, state, and local support,' Glenfarne CEO Brendan Duval said in a news release. Advertisement Glenfarne took primary control of developing the Alaska LNG project earlier this year, a move intended to jump-start a project that has yet to start construction despite years of effort. The proposal — pegged most recently at $44 billion — includes an 807-mile, 42-inch diameter pipeline that would connect the northernmost part of Alaska with the south-central part of the state as well as a planned liquefaction facility.
E&E News
3 hours ago
- E&E News
Forest preservation can worsen climate change, UN affiliate says
Carbon markets that fund forest preservation and tree-planting might actually be worsening climate change by increasing risks for wildfires that emit massive levels of greenhouse gases, a new United Nations-affiliated report says. Forests have been seen as one of the most effective places to counter climate change by absorbing carbon emissions. But that's changed, says a May paper from the United Nations University Institute for Water, Environment and Health (UNU-INWEH), an academic arm of the international U.N. In the past decade, wildfires of record-breaking size have erupted in places such as Canada, Australia, Siberia and the Amazon rainforest. This week, forest wildfires forced evacuations of thousands of Canadians in Manitoba and Alberta provinces. Advertisement 'Forests and peatlands have increasingly transitioned into massive carbon emitters in many parts of the world due to increasing wildfires,' the report says. Climate policies and carbon-mitigation activities 'fail to account for these substantial emissions.'
