Future Fund raises returns with fewer managers
The A$165.7 billion ($133.7 billion) Australian sovereign wealth fund saw its assets jump 11.5% in 2018/19 as it successfully boosted its long-term returns.
Less is more. This appears to be the case at Future Fund – at least for now – after the Australian sovereign wealth fund posted an impressive set of performance figures, having recently cut the number of external managers it uses.
In an annual report published on Friday, Future Fund said its 10-year returns leapt to 10.4% per annum in the year to June-end from 8.7% in 2017/2018 and 7.9% in 2016/2017.
However, in a portfolio update published on Monday, Peter Costello, chair of …
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