| Australia’s sovereign wealth fund boosted its cash holdings to a six-year high to curb risks and said returns may be lower going forward amid concerns about the global economic outlook.
The Future Fund said cash made up 19.5 percent of its A$117.2 billion ($82 billion) of assets under management as of June 30, up from 11.2 percent last year. It returned 15.4 percent in 2014-15 and warned that “prospective returns will likely be harder to achieve given the run up in asset prices and a somewhat mixed global economic and market outlook.”..............................................Full Article: Source
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