Everyone seems to hate the Australian sharemarket at the moment. Last week, broker Morgan Stanley told its wealthy clients to cut their holdings in favour of global shares, where there is greater exposure to the boom in artificial intelligence spending.This week, research consultant Zenith added its voice to those telling clients to sell Australia. The firm’s head of asset allocation Damien Hennessy said local stocks would remain under pressure this year due to higher interest rates and a limited exposure to AI.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
What’s eating Australia’s largest listed sharemarket funds?
These multibillion-dollar Australian share funds have been operating for almost a century. But they’ve never been more out of favour, presenting a puzzle.
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