Big super joins great rotation out of CBA and towards mining giants

The country’s largest superannuation fund is moving retirement savings out of Commonwealth Bank and into resources in a sign the market is rotating back towards an underperforming commodities sector.

The decision by AustralianSuper comes amid an iron price spike pushed along by Chinese efforts to fire up the world’s second-largest economy by supporting the profitability of steel mills and spurring them to buy more from major local miners, including BHP, Rio Tinto and Fortescue.

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