22.04.2016 - Australian Sovereign Wealth Fund Lifts Cash Levels Close to 25%
Australia’s sovereign wealth fund increased the amount of cash it holds to almost one quarter of its A$117.4 billion ($91 billion) portfolio as it says global central banks have less firepower to respond to economic weakness. The so-called Future Fund raised its holdings in cash to 22.9 percent as of the end of March, citing the prospect for lower future returns, according to a statement Friday. Since being formed in 2006, its assets have almost doubled from A$60.5 billion, with the fund returning 7.4 percent per year...............................................Full Article: Source
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