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Future Fund hits $100bn

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By Scott Hodder
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2 minute read

The Future Fund has reported funds under management of $101 billion after generating investment returns of $12 billion for the 2013/2014 financial year.

Posting its provisional outcome for the 2013/2014 financial year yesterday, the Future Fund has now generated over $40 billion from government contributions valued at $60.5 billion.

Future Fund chairman Peter Costello said the returns show the value of long-term and patient investing.

"In the fund’s early days, in a challenging investment climate, the returns were below the target range, but disciplined adherence to clear objectives have delivered good results over the medium term," said Mr Costello.

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Over seven-, five-, three- and one-year periods to 30 June 2014, the fund met or exceeded its return objectives, according to a statement.

Since its creation in May 2006, the Future Fund has achieved a return of 7.1 per cent per annum – just below its target of 7.2 per cent.