Australia’s Future Fund has grown to A$171 billion ($132 billion), its highest value ever, despite initially clocking negative returns due to the impact of the COVID-19 pandemic.
The total funds managed across all six funds stands at A$218 billion ($168 billion).
“This comes after an unprecedented year where markets fell by over a third during the early months as a result of the COVID pandemic,” said Hon Peter Costello, chair of the Future Fund board of guardians. “In the second half, markets staged a strong comeback. The Future Fund navigated the early market falls well, mitigating their impact on the portfolio, and performed strongly in the second half of the calendar year.”
Costello noted the investment strategy uses diversification and a long-term investment horizon to navigate market volatility. The board will remain focused on long-term performance and balancing the risk and return obligations of the mandate.
“The Future Fund entered the
