| The Future Fund has boosted its cash holdings by a further $2.4 billion to $26.8 billion as it posted its first negative quarterly return since June 2012. The Australian sovereign wealth fund returned a modest negative 0.9 per cent, as its assets declined to $117.39 billion from $118.4 billion from the start of the year as it continued to shift its allocation towards more defensive investments such as cash.
The high cash position, which accounts for 23 per cent of assets, and falling returns is highlighting the challenge facing the fund in attempting to avoid taking excessive investment risk while still hitting its mandated target...............................................Full Article: Source
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