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Sovereign fund warns of US stock dip
The CEO of New Zealand's sovereign wealth fund warns of an imminent correction in the U.S. stock market, pointing out that the record-breaking returns recently achieved by Wall Street are unsustainable and are expected to revert to historical averages. The fund indicated that American stock gains over the past two years nearly doubled the average returns of the past twenty years, highlighting the need to diversify the investment portfolio to avoid market volatility. The fund has lowered its annual return target from 7.8% to 7.2% due to cautious forecasts, emphasizing risk reduction and investing in alternative assets, real estate, and private markets, despite its continued heavy focus on major technology companies.
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