Australian Sovereign Wealth Fund Lifts Cash Levels Close to 25%By
Cash now 22.9% of fund after increasing from end of 2015
Developed-market stocks down from prior quarter to 15.2%
Australia’s sovereign wealth fund increased the amount of cash it holds to almost one quarter of its A$117.4 billion ($91 billion) portfolio as it says global central banks have less firepower to respond to economic weakness.
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