Has anyone read the latest LNP proposals of limiting Australian Super Fund Ownership of ASX listed companies to less than 10% while allowing Vanguard, BlackRock and other foreign entities to do as they please?
They're even proposing compulsory divestment for AU Funds which would trash the share prices of CBA and similar companies with large Super holdings.
It's dressed up as "protecting" retail holders but this is complete rubbish. Foreigners already own much of BHP, RIO, CBA, CSL and the rest.
Does anyone seriously think that making AU Super Funds sell down so that foreign entities can pick up more of the remainder of CBA and other ASX companies is going to help ANY Australian investor?
Whose interests does the LNP serve these days? Their vision seems to be for a Nigeria or Argentina where foreigners own the important stuff and locals are the hired help. Every LNP policy pushes in that direction.
CBA Price at posting:
$112.04 Sentiment: Hold Disclosure: Held
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