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Tech Stock Selloff Looks Overdone, Australian Pension CIO Says

Amy Bainbridge, Richard Henderson
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UniSuper’s CIO dismissed fears over the recent global tech stock decline, calling the selloff exaggerated in a February 2026 interview. The A$166 billion Australian pension fund leader argued sector resilience stems from deep business integration. John Pearce highlighted companies like Salesforce as "sticky" investments due to their entrenched enterprise software, making replacements costly and unlikely. He cited long-term value despite short-term volatility. The fund executive emphasized AI-driven tech spending as a broader economic catalyst. He predicted ripple effects into other industries, offsetting market downturns through revenue growth elsewhere. Pearce’s optimism contrasts with bearish sentiment, framing the dip as a buying opportunity. His stance reflects confidence in tech’s fundamental role in modern business infrastructure. The remarks underscore institutional faith in tech’s recovery potential, particularly for firms with irreplaceable platforms. Analysts may weigh this bullish outlook against ongoing market corrections.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The chief investment officer of UniSuper, one of Australia’s largest pension funds, is brushing aside concerns about the downturn in global tech stocks, saying that spending in the sector can support other parts of the market.The selloff appears overdone, particularly for companies like Salesforce Inc. whose software is heavily integrated into business processes and tough to overhaul, said John Pearce, who oversees the A$166 billion ($117 billion) fund. Large artificial intelligence investments in tech firms could also boost revenues in other industries, he added.

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Source: Bloomberg Technology

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