| Australia’s A$118 billion sovereign wealth fund, the Future Fund, has increased its cash reserves because of uncertainty in global financial markets and worries about the impact of a rate rise by the U.S.central bank. “We believe that prospective returns are relatively low at the moment and we believe that the risks are relatively high,” Future Fund Managing Director David Neal tells a Budget oversight committee of Australian lawmakers.
Neal adds that the key risks worrying the world’s 14th largest sovereign fund include U.S. monetary policy and “whether the U.S economy will be able to withstand rising interest rates and how it will cope with rising interest rates.”..............................................Full Article: Source
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