Adani stock rout leaves tens of millions in Australian retirement savings exposed

Jonathan Barrett

Tens of millions of dollars worth of Australian retirement savings have been exposed to the beleaguered Adani Group as the Indian conglomerate faces a stock rout after allegations of fraud. Several major superannuation funds, including those that cater for government workers in Queensland and employees at the Commonwealth Bank (CBA), invested in the company after allocating money to emerging markets to boost returns.

Australia’s $243bn Future Fund, which was set up to strengthen the commonwealth’s long-term financial position, also has an exposure to two Adani companies that are now worth a fraction of the original investment….