Future Fund attains double-digit gains
Australia’s A$117 billion ($93.75 billion) Future Fund generated returns of 15.1 percent in the first nine months of the financial year ending March 31. The Future Fund has recorded an average annual return of 8.2 percent since its inception in 2006, growing the fund by A$56.5 billion ($45.27 billion) from its initial launch with contributions from the government valued at A$60.5 billion ($48.5 billion) at the time of the transfer.
Though the portfolio has performed well since 2006, the effects of massive monetary stimulus around the world suggest asset prices are, for the most part, fully priced or even overpriced in some cases, said Future Fund chair Peter Costello in a recent statement about these portfolio returns.
According to David Neal, managing director of the Future Fund, such conditions make it unlikely th