Australia's UniSuper Pledges to Buy U.S. Tech Stocks on 10% Dips, Betting on AI Growth

According to Bloomberg, UniSuper chief investment officer John Pearce said on July 8 that the Australian pension fund would increase its U.S. tech stock allocation if the sector declines 10%, viewing tech companies as positioned in the "sweet spot" of the AI investment cycle. UniSuper, which manages 166 billion Australian dollars (approximately $115 billion), remains confident in AI-driven earnings growth over coming years despite valuation concerns. The fund's core investment portfolio delivered a 10.4% return in the fiscal year ended June 30, outperforming the industry median of approximately 9%.
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