Fraud allegations send Indian conglomerate’s share prices plunging but super funds contend exposure is limited due to diversification of holdings
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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.
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