11.08.2011 - Future Fund confirms stake in Telstra has fallen to 2.5pct
The Future Fund, which was established in 2006 and was designed to help the Australian government meet the cost of public sector superannuation (pension) liabilities by delivering investment returns on contributions to the fund, has revealed that its stake in fixed line incumbent Telstra has fallen to around 2.5%. Having issued a portfolio update yesterday, the Fund said it had decreased its holding in Telstra to approximately 313 million shares, valued in total at AUD939 million (USD953 million), down from its original holding of 17%. The Fundís board also reiterated its intention to continue selling off its shares in the telco until it hits market weight (around 100 million shares)..............................................Full Article: Source
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