Australia’s Future Fund doubles its money

Raphael Arndt
Raphael Arndt, Future Fund's CIO

Australia's Future Fund has doubled its initial endowment in the 10 years it has been in operation, it said in its latest investment update on September 1.

The sovereign wealth fund stood at A$123 billion ($93 billion) as of June 30, having delivered an average annual return of 7.7% since it was set up in May 2006 with a starting contribution of A$60.5 billion.

The fund targets returns of CPI plus 4.5%, and has exceeded its average 6.9% target over the past 10 years. The past 12 months, however

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