Future Fund targets private markets to boost returns

Australia’s Future Fund intends to increase its private markets exposure to boost returns and help offset what is likely to be a period of deteriorating performance for equities and bonds. Announcing its annual results to the end of June 2018, the sovereign wealth fund’s chairman Peter Costello and chief investment officer David Neal said returns from public markets look set to decline in the foreseeable future. Neal said the Future Fund’s portfolio managers are increasingly loo…