In an update on Thursday the taxpayer-owned fund notched up 10.1 per cent returns for the year to March and 4.5 per cent over the quarter, as global sharemarkets powered ahead. Despite the bounce, however, the fund reiterated its cautious stance, pointing to challenges ahead as governments unwind extraordinary stimulus policies that have inflated asset prices.
“The board recognises that the investment challenge ahead is significant and is continuing to assess and position the portfolio to generate mandated long-term returns while managing risk.”was surprisingly low. Even so, there remains a concern among investors that higher inflation could mean interest rates end up being raised from 0.1 per cent earlier than the 2024 target flagged by the Reserve Bank.
Future Fund chief executive Raphael Arndt said the fund was targeting “neutral” risk levels across its portfolios, and said that while many economies had recovered, others remained susceptible to further shocks. Over the financial year to date, the fund reported returns of 10.9 per cent compared with 12.2 per cent for an index of balanced super funds published by SuperRatings. The fund’s returns over one year were 10.1 per cent, which compares with 19.3 per cent for the same balanced super fund index.
Source: Loan Digest (loandigest.net)
LyndaFrench19 With lnp govt weare always living on the edge If only we had some gold reserves to fall back on Oh wait he sold it at cut price price
What Costello did:
No inflation! When this crazy V shaped fake recovery cooked by global govt stimulus is over, growth will be flat lined or even negative in about 15 months. It's deflation in mid 2023.
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