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Aware Super junks China strategy – The Australian Financial Review
Australia’s second-largest superannuation fund, the $135 billion Aware Super, is scrapping its expansion plans in China due to its government’s failure to westernise….
In mid-2018, Mr Graham, as chief investment officer of Aware Super predecessor First State Super, unveiled plans to more than double the funds $1 billion exposure to China through holdings of Chinese shares, as well as unlisted private equity investments in that country.
A year earlier, First State Super had been granted a Qualified Foreign Institutional Investor licence, the first Australian superannuation fund to be given one.
First State Super initially piled about $US500 million worth of member…
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