“By way of contrast, a number of developed markets where funds have significant equity exposures exhibit significant current account deficits, such as in the US, and unfavourable demographics due to an aging population, such as in Japan and Europe… coupled with a large public and private sector debt overhang, may lead to a weaker economic outlook in the near term as households and governments seek to de-leverage and save more,” said Chee.
Investments
Ian Patrick, chief investment officer of the $370 billion Australian Retirement Trust, says that integrated balance sheet management will “beyond a shadow of a doubt” become a more prominent feature in the superannuation industry as funds grapple with the compounding effects of their growing size, systemic importance and the liquidity needs of servicing a larger cohort of retirees.

















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