Turbo-charged returns can't last: Super Fund
The fund has released a new report that explains its view of the global investment environment and the implications of that. Overall, it is taking less risk than it was a year ago.
Winn said the global economy was growing slowly, with only the US performing well from a global perspective. Global equity prices had recovered from the volatility of earlier in the year and most asset classes were now fairly valued, he said.
But while most of the asset classes and investments the fund was tracking were neither cheap nor expensive, there were now some parts of the market that seemed overpriced, such as European sovereign bonds where negative rates were offered for long terms.
Winn said that did not seem right. “At some point they will have to change to positive rates.”
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