Australia’s Top Pension Fund Dumps WiseTech After Scandals
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Australia’s largest pension fund has sold down its stake in scandal-plagued WiseTech Global Ltd., saying the company’s governance fell short of expectations.
AustralianSuper, which manages more than A$365 billion ($230 billion), sold about A$580 million worth of WiseTech stock in the past few weeks, having been invested in the company since its public listing in 2016.