The sovereign wealth fund’s earnings grew by 22.2 per cent to $35.7 billion, while the contributed capital more than trebled to $196.8 billion.
“This rebound in investment earnings reflects the recent strength of the economic recovery and the return of business and consumer confidence in Australia and elsewhere around the world,” Treasurer Josh Frydenberg said.
“Whilst we continue to face tough times in Australia, we should have confidence that the Future Fund will continue to invest in the future of Australians.
“Credit is due to chairman Peter Costello and his team on another strong performance by the Future Fund. Since its establishment, by then Treasurer Peter Costello, it has been an important vehicle by which Australia can prepare to meet its future financial obligations.”
Finance Minister Simon Birmingham added: “With double digit earnings across five of its six public asset funds, and total funds under management now reaching $245.8 billion, the Future Fund continues to go from strength‑to‑strength.
“With its largest ever annual return, the Future Fund has shown incredible resilience and an ability to navigate through uncertain times in global investment markets over the past year.”
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
