| It's 10 years old, doubled in size and, at $123 billion, is larger than Peter Costello envisaged when he established it in May 2006. But the former Liberal treasurer, now chairman of the fund which aims to cover the unfunded liabilities of public service superannuation, has warned of a difficult investment environment ahead.
In its latest quarterly update, the fund returned 4.8 per cent in the past year, just shy of its legislative target of 5.5 per cent - CPI plus 4.5 per cent. But over the past decade it has returned 7.7 per cent, adding $62.3 billion to the original government contributions of $60.5 billion...............................................Full Article: Source
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