| In delivering the Future Fund’s best two-year return since its inception seven years ago, managing director David Neal took great pains to point out that recent returns are not sustainable. The Future Fund, set up by then treasurer Peter Costello in 2006, generated a return of 14.3 per cent for the fiscal year to June, taking the total value of its assets to $104.5 billion and ensuring a comfortable retirement for the nation’s civil servants when the fund starts paying out from 2020.
Following on from a similarly strong 15.4 per cent return in the prior year, that means the Fund has well and truly beaten its targeted return of CPI plus 4.5 per cent over all investment periods, and indeed doubled its target in the latest year...............................................Full Article: Source
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