Australia's Future Fund increases infrastructure allocation to 8 %
The Australian Government Future Fund has increased its infrastructure allocation during the 12 months to 30 September. The Future Fund's allocation to infrastructure increased by 2.1 percentage points to 8 % over the year to 30 September 2013.
During this period the Future Fund has increased its infrastructure portfolio from A$4,747 million to A$7,334 million in assets.
The Fund has made a shift toward listed equity, infrastructure and private equity during the 12 months to 30 September, and currently manages A$91.7 billion.
The fund has returned 8.2 % per annum over the five years to 30 September 2013, exceeding its baseline long-term target of 6.8 % per annum.
Within the mentioned period, the Future Fund acquired all the assets from the Australian Infrastructure Fund (AIX). The Future Fund paid a consideration of A$2 billion.
The Australian Government Future Fund is an independently managed investment fund into which the Australian Government deposits its budget surplus. The purpose of the fund is to meet the government's future liabilities for the payment of superannuation to retired civil servants of the Australian Public Service. The fund's investment decisions are made at arm's length from the executive.
See Briefing presented on 23 October 2013:
http://www.futurefund.gov.au/__data/assets/pdf_file/0004/5755/2013_October_Briefing_pack.pdf
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