Australia’s Future Fund has reported a return of –0.9 percent for the fiscal year, bringing the fund to A$161 billion ($118 billion) in total assets.
This year the fund undertook a material rebalance of the private equity portfolio, reducing some of its exposure to international growth and buyout managers, according to a portfolio update released June 30.
The fund also completed the sale of other unlisted assets, including Gatwick Airport near London and deployed some of its capital into new infrastructure investments such as fiber and data centers, in Australia and offshore.
“The second half of FY 2020 was dominated by the COVID-19 pandemic and the lockdown of much of the Australian economy by governments in response,” said Hon Peter Costello AC, chair of the Future Fund board of guardians. “The global economy went into reverse, and the Australian economy moved into recession for the first time in 30 years.”
He added that the Future Fund is a
