The top investor at Australia’s largest superannuation fund says the US will continue to dominate its new investments despite market chaos caused by tariffs, in a vote of confidence from one of the most active foreign investors in the world’s largest economy.
Mark Delaney, chief investment officer at AustralianSuper, which manages A$367bn ($223bn) of assets, said that while tariff announcements were a “significant volatility event”, the US continued to look like the most attractive investment region on a long-term basis. More than half of the superannuation fund’s international exposure is in America, and Delaney said he had not reduced this in recent weeks.
“The US has a lot positive going for it — strong economic performance (though it’s given a bit back), strong productivity growth, strong profit growth and, by any measure, many of the best companies in the world — all that makes it an attractive place to store capital,” he told the Financial Times in an interview.