【特稿】澳大利亚养老金基金考虑调整美元资产策略

Group 1 - Australian pension funds, totaling AUD 2.7 trillion, are reconsidering their long-term holdings in USD assets due to weakened confidence in U.S. economic growth [1] - The Australian dollar (AUD) has appreciated against the U.S. dollar (USD), reaching a five-month high on April 5, with a 3% increase year-to-date [1] - Global pension asset management institutions have begun to reduce their exposure to USD assets, with signs of large financial institutions selling off USD assets [1] Group 2 - A record scale of U.S. stock sell-offs was reported in March, with European investors withdrawing EUR 2.5 billion (USD 2.8 billion) from U.S. ETFs in April, marking the highest level since the beginning of 2023 [2] - If European pension funds reduce their USD asset holdings to 2015 levels, it would equate to a sell-off of EUR 300 billion (USD 333.2 billion) in USD assets [2] - The potential reversal of capital globalization trends could lead to a net capital outflow from the U.S., impacting the USD, U.S. equities, and U.S. bonds structurally [2]