• ART increased its yen position while cutting U.S. dollar exposure across its portfolio.
• Rate divergence and yen undervaluation support ART’s tactical currency allocation plan.
• Bitcoin remains an optional allocation while macro assets anchor pension fund strategies.

Australia’s second-largest superannuation fund has built its largest Japanese yen overweight in years while reducing U.S. dollar exposure. The move reflects a defined view on interest rates and currency valuation. It shows how the institution is positioning for macro uncertainty through traditional markets.

The Australian Retirement Trust (ART) manages around A$375 billion for 2.4 million members. It expanded the yen position over six months as the exchange…