Instos dump Terror Bank

Tuesday, 22 August 2017

And why wouldn’t they, sheesh, from Banking Day:

Institutional shareholders are reviewing their equity exposures to Commonwealth Bank amid deepening concern that the valuation premium on the company’s stock will continue to erode.

Many of Australia’s largest super funds and listed equity trusts – including Australian Foundation Investment Company, Argo Investments and Australian Super – count CBA as their largest single exposure in their portfolios.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.