A former chief investment officer has questioned the labelling of high-growth default options and criticised the concentration of assets in the US equity markets.
When the $300 billion Australian Retirement Trust made a monster bet last year on equities, one former investment professional emphatically refused to join the high-growth default option with its 65 per cent exposure to domestic and international stocks.
Brad Holzberger, who used to be chief investment officer at the $80 billion QSuper, which merged with Sunsuper in 2022 to create ART, refused to shift his personal retirement savings away from ART’s balanced risk-adjusted investment option.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
