Investment chiefs overseeing trillions of dollars in retirement savings are mulling a monumental adjustment to their foreign currency exposure to help mitigate losses from US President Donald Trump’s unpredictable trade agenda.

Superannuation funds currently have an estimated $379 billion invested in overseas shares, of which around 20 per cent is hedged or protected against a decline in the US dollar that can bite into returns when converted to Australian dollars. It used to be 35 per cent a couple of years ago.