Australian asset owners seen turning defensive

While the global economic growth outlook is still largely positive for equity markets over the short term, asset owners in Australia have been starting to take risk off the table and apply some protection to their portfolios. Superannuation funds, for example, are adopting a variety of approaches to deal with the possibility of increased market volatility. Some are focused on diversification or using derivatives, given the cheap option pricing amid calm markets. Others, such as Fu…