Two of Australia’s largest superannuation funds have vowed to maintain their level of exposure to US markets, despite a more volatile and unpredictable White House, as they home in on double-digit returns for the financial year.
Industry super giant Cbus, which manages $100 billion in retirement savings for a customer base largely consisting of construction workers, made a return of 9 per cent on its default option over the past 12 months, securing an extra $14,770 for the average Australian’s nest egg.