06.02.2013 - Australia Future fund looks to US, Europe property to hit targets
Australia's state pension fund is seeking to build up its Australian infrastructure and U.S. and European property investments as it struggles to meet its mandated targets. The Future Fund said bank deleveraging after the global financial crisis meant there were still good opportunities for property investment, particularly in the stressed European and U.S. markets. The A$82.4 billion fund increased its exposure to property, infrastructure projects and timberland over the 12 months to Dec. 31. At the end of the year, the proportion of the fund invested in property was 6.6 percent, or A$5.4 billion, from 6 percent. Australia and the U.S. account for more than A$2 billion each of that investment...............................................Full Article: Source
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