Australian Fund Giant Bets on U.S. Company Bonds

QIC sees tax reforms going through by latest early next year
Reforms will provide opportunities for companies to cut debt

The Overseas Passenger Terminal, foreground right, and buildings in the financial district stand illuminated at dusk in Sydney, Australia, on Friday, Sept. 29, 2017. A bungled transition from coal to clean energy has left resource-rich Australia with an unwanted crown: the highest power prices in the world.Photographer: Cole Bennetts/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Ruth Carson and Kanika Sood

November 29, 2017 at 1:47 AM UTC

This article is for subscribers only.

U.S. lawmakers will succeed in inking a $1.4 trillion deal to slash corporate taxes by early next year. American companies with solid balance sheets will be the biggest winners and pose some of the best credit investments in 2018.

That’s the conviction of QIC Ltd., one of Australia’s biggest money managers overseeing A$82 billion ($62 billion) in assets. It also comes at a time when Senate Republicans can afford to lose no more than two votes among their ranks to pass the tax measures without Democratic help this week.