28.01.2016 - Australia's Future Fund Returns 8.4% in 2015, Expands Cash Level
Australia’s sovereign wealth fund returned 8.4 percent last year to beat global and domestic benchmarks, as it increased cash holdings to pare risk. Future Fund, which manages A$118.4 billion ($83 billion), trimmed its global stock and private-equity investments, it said in an e-mailed statement Wednesday. It warned that future returns may be lower as central banks withdraw monetary stimulus. “We have gradually reduced the level of risk in the portfolio through 2015, reflecting our view of the investment environment,” Managing Director David Neal said in the statement...............................................Full Article: Source
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