Future Fund shifts from equities to cash and achieves above-target return in 2015

David Neal
David Neal, managing director of the Future Fund

Australia's sovereign wealth fund announced returns of 8.4% on its $82.269bn (A$118.4bn) portfolio in 2015 today (January 27), surpassing its 6.1% target.

Returns for the last quarter and the last half were, however, both below target. The Future Fund made a significant shift from equities to cash last year, in what senior management said was a response to a lower-return investment environment.

The fund aims to achieve an average return of between 4.5% and 5.5% above Australia's CPI inflation

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