How the Future Fund found agility
Using a fund of funds enabled the Future Fund to build a large exposure to hedge funds quickly during the global financial crisis.
Using a fund of funds enabled the Future Fund to build a large exposure to hedge funds quickly during the global financial crisis.
For the past five years David Neal has been integrating the vision of “one team, one portfolio” into the culture of the investment team at the $77-billion Future Fund. This has now been set in stone – well, porcelain – with coffee cups bearing the moniker used by staff throughout the organisation. The slogan is
Australia’s sovereign wealth fund, the Future Fund, has lost more than $2 billion in the September quarter, as global share markets tumbled – despite reducing its equity exposure and moving more into defensive assets, such as cash.
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