Future Fund

{{Short description|Australian sovereign wealth fund}}

{{Use dmy dates|date=June 2020}}

{{Use Australian English|date=March 2012}}

{{Infobox company

| name = Future Fund

| logo =

| type = Government-owned corporation

| foundation = {{start date and age|2006}}

| location = Melbourne, Victoria, Australia

| key_people = Greg Combet (Chair)
Raphael Arndt (CEO)

| industry = Investments

| num_employees = 314{{cite report |format=PDF |access-date=21 November 2024 |date=26 September 2023 |archive-date=21 November 2024 |url-status=live |archive-url=https://web.archive.org/web/20241121003605/https://www.futurefund.gov.au/-/media/F392074E5C624A19A0ACA3809B6AE366.ashx |url=https://www.futurefund.gov.au/-/media/F392074E5C624A19A0ACA3809B6AE366.ashx |title=2022–23 Annual Report |work=Future Fund Board of Guardians |page=83 |issn=2205-8052}}{{cite report |archive-url=https://web.archive.org/web/20241121001634/https://yearinreviewfy24.futurefund.gov.au/FY24-Year-in-Review.pdf |url=https://yearinreviewfy24.futurefund.gov.au/FY24-Year-in-Review.pdf |archive-date=21 November 2024 |access-date=21 November 2024 |year=2024 |work=Future Fund Board of Guardians |title=Year in Review 2023–24 |pages=3, 13, 14 |url-status=live}}

| num_employees_year = 2024

| aum = $289.4 billion (2024)

| assets = $224.9 billion

| assets_year = 2024

| homepage = {{URL|http://www.futurefund.gov.au/}}

| owner = Australian Government

}}

The Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for public servants that will become payable during a period when an ageing population is likely to place significant pressure on the Commonwealth's finances.{{Cite web |title=Australia's sovereign wealth fund |url=https://www.futurefund.gov.au/ |access-date=2024-01-23 |publisher=Future Fund |website=futurefund.gov.au |archive-date=30 August 2018 |archive-url=https://web.archive.org/web/20180830151614/https://www.futurefund.gov.au/ |url-status=live }}

Purpose

The legislation{{Cite Legislation AU|Cth|act|ffa2006147|Future Fund Act 2006}} establishing the Future Fund describes its main object as being 'to strengthen the Commonwealth's long-term financial position'. While legislation permits withdrawals from the fund from 1 July 2020, the government indicated in 2017 it intends to allow the fund to continue to accumulate until at least 2026/27 before making withdrawals. The Investment Mandate{{Cite press release|date=21 November 2024|access-date=21 November 2024|url=https://www.futurefund.gov.au/news-room/20241211--Future-Funds-New-Investment-Mandate|archive-date=21 November 2024|url-status=live|archive-url=https://web.archive.org/web/20241121015113/https://www.futurefund.gov.au/news-room/20241211--Future-Funds-New-Investment-Mandate|title =Future Fund's New Investment Mandate}} for the Future Fund is to target a benchmark return of at least the Consumer Price Index + 4 to 5 per cent per annum over the long term, while taking an acceptable but not excessive level of risk.

The Future Fund Board is currently also responsible for six other Australian sovereign wealth funds:

  • DisabilityCare Australia Fund – A fund to contribute to the cost of the National Disability Insurance Scheme. At 31 December 2023, it was valued at A$16.9 billion.{{Cite web |last= |first= |title=Future Fund Management Agency, Australian Government |url=https://www.futurefund.gov.au/ |access-date=2024-01-23 |website=www.futurefund.gov.au |archive-date=30 August 2018 |archive-url=https://web.archive.org/web/20180830151614/https://www.futurefund.gov.au/ |url-status=live }}
  • Medical Research Future Fund – A fund to disperse interest generated to medical research. At 31 December 2023, it was valued at A$22.3 billion.{{Cite web |title=Future Fund Management Agency, Australian Government |url=https://www.futurefund.gov.au/ |access-date=2024-01-23 |website=www.finance.gov.au |archive-date=30 August 2018 |archive-url=https://web.archive.org/web/20180830151614/https://www.futurefund.gov.au/ |url-status=live }}
  • Future Drought Fund - A fund to provide secure, continuous funding for drought resilience initiatives. Valued A$4.7 billion at 31 December 2023.{{Cite web |date= |title=Future Fund Management Agency, Australian Government |url=https://www.futurefund.gov.au/ |access-date=23 January 2024 |website=Department of Agriculture, Fisheries and Forestry}}
  • Aboriginal and Torres Strait Islander Land and Sea Future Fund (ATSILS Fund) – A fund to enhance the Commonwealth's ability to make payments to the Indigenous Land Corporation. Established in February 2019 with a capital contribution of A$2 billion transferred from the Aboriginal and Torres Strait Islander Land Account. Valued A$2.1 billion at 31 December 2023.{{Cite web |title=Future Fund Management Agency, Australian Government |url=https://www.futurefund.gov.au/ |access-date=2023-08-31 |website=www.futurefund.gov.au}}
  • Disaster Ready Fund - A fund to provide up to one billion dollars over the next five years, from 2023-24 for natural disaster resilience and risk reduction across Australia.{{Cite web |title=Disaster Ready Fund |website=National Emergency Management Agency |url=https://nema.gov.au/disaster-ready-fund |access-date=2023-08-28 |language=en |archive-date=28 August 2023 |archive-url=https://web.archive.org/web/20230828055811/https://nema.gov.au/disaster-ready-fund |url-status=live }} Valued at A$4.7 billion at 31 December 2023.
  • Housing Australia Future Fund The A$10 billion Fund was established on 1 November 2023 to fund social and affordable rental housing.

The Education Investment Fund, a fund to provide capital investment in higher education and vocational education and training valued at A$3.9 billion in 2018, was ended by 2019 legislation, which redirected the money to natural disaster relief.{{cite web | url=https://www.aeufederal.org.au/news-media/news/2019/fed-govt-ends-education-investment-fund | title=AEU: Fed Govt ends education investment fund }}

Governance

File:David Murray.jpg, pictured in 2008]]

Investment of the Future Fund is the responsibility of the Future Fund Board of Guardians with the support of the Future Fund Management Agency. The Future Fund is overseen by an independent Board of Guardians selected on the basis of their expertise in investment management and corporate governance. The current Board composition is:{{cite web |url=http://www.futurefund.gov.au/About-us/who-we-are/board-of-guardians |title=Board of Guardians |date=3 April 2016 |at=About us |publisher=Future Fund |access-date=21 November 2024 |archive-date=10 June 2024 |archive-url=https://web.archive.org/web/20240610211012/https://www.futurefund.gov.au/about-us/who-we-are/board-of-guardians |url-status=live }}

class="wikitable"

!width="200pt" |Position

!width="200pt" |Name

!width="150pt" |Term commenced

!width="150pt" |Term expires

!width="150pt" |Term served

ChairGreg Combetalign="center"|1 June 2024
rowspan=6|GuardianDeborah Ralstonalign="center"|15 September 2021align="center"| 15 September 2026align="right"|{{age in years and days|2021|9|15}}
Patricia Crossalign="center" |11 May 2021align="center"| 11 May 2026align="right"|{{age in years and days|2021|05|11}}
Rosemary Vilganalign="center"|4 February 2024align="center"|4 February 2029align="right"|{{age in years and days|2024|2|4}}
Michael Wachtelalign="center"|3 April 2016align="center"| 3 April 2026align="right"|{{age in years and days|2016|04|03}}
Mary Reemstalign="center"|6 October 2023
Nicola Wakefield Evansalign="center"|1 March 2024

The Board was chaired by David Murray between 2006 and 2012. Amidst some controversy it was announced that David Gonski would succeed Murray as independent non-executive chairman when Murray's term expired on 3 April 2012.{{cite news |title=Sydney bigwig to head Future Fund |url=https://www.smh.com.au/business/sydney-bigwig-to-head-future-fund-20120313-1uy2h.html |date=13 March 2012 |work=Sydney Morning Herald |author=Evans, Michael |access-date=16 March 2012 |archive-date=15 March 2012 |archive-url=https://web.archive.org/web/20120315205052/http://www.smh.com.au/business/sydney-bigwig-to-head-future-fund-20120313-1uy2h.html |url-status=live }}{{cite news |url=https://www.smh.com.au/opinion/political-news/murray-wades-into-future-fund-fight-over-costello-20120316-1v93d.html |title=Murray wades into Future Fund fight over Costello |author1=Wright, Jessica |author2=Yeates, Clancy |work=Sydney Morning Herald |date=16 March 2012 |access-date=16 March 2012 }}{{cite news |url=http://www.theaustralian.com.au/national-affairs/labor-refuses-to-release-report-showing-future-fund-board-wanted-costello-not-gonski/story-fn59niix-1226300047196 |title=Labor refuses to release report showing Future Fund board wanted Costello, not Gonski |author1=Packham, Ben |author2=Massola, James |work=The Australian |date=15 March 2012 |access-date=16 March 2012 |archive-date=15 March 2012 |archive-url=https://web.archive.org/web/20120315084445/http://www.theaustralian.com.au/national-affairs/labor-refuses-to-release-report-showing-future-fund-board-wanted-costello-not-gonski/story-fn59niix-1226300047196 |url-status=live }}{{cite news |url=http://www.abc.net.au/news/2012-03-16/robb-blasts-future-fund-appointment/3893384 |title=Minchin backs Gonski over Future Fund 'shemozzle' |author=Griffiths, Emma |work=ABC News |location=Australia |date=16 March 2012 |access-date=16 March 2012 |archive-date=16 March 2012 |archive-url=https://web.archive.org/web/20120316082315/http://www.abc.net.au/news/2012-03-16/robb-blasts-future-fund-appointment/3893384 |url-status=live }} At the same time, Steve Harker, an investment banker from Morgan Stanley in Australia, replaced Brian Watson as a Guardian. David Gonski chaired the Board until January 2014 when it was announced that he would leave to chair the ANZ Bank. Costello was appointed the interim chair until the announcement of his permanent chairmanship in February 2014. Greg Combet replaced Costello as chairman in February 2024.[https://www.afr.com/politics/federal/new-future-fund-boss-is-greg-combet-20240129-p5f0pj Greg Combet announced as new Future Fund boss] Australian Financial Review 29 January 2024

History

On 11 September 2004, the Federal Treasurer, Peter Costello, announced that the Future Fund would be established following the 2004 federal election.[http://www.newstext.com.au/docs/ADV/2004/get.jsp?docid=ADV-20040911-1-038-2085454V9@SA-METRO-2004-2003 ELECTION 2004 New fund for future super bills]{{Dead link|date=November 2024 |bot=InternetArchiveBot |fix-attempted=yes }}, newstext.com.au 11 September 2004. The Future Fund Act 2006 received Royal Assent on 23 March 2006. On 5 May 2006, $18 billion, derived from government surpluses as well as income from the sale of a third of Telstra in its ongoing privatisation, was deposited into the fund.{{cite web |title=FAQs |url=http://www.futurefund.gov.au/faqs |publisher=Future Fund |date=9 May 2011 |access-date=16 March 2012 |archive-date=16 March 2012 |archive-url=https://web.archive.org/web/20120316182801/http://www.futurefund.gov.au/faqs |url-status=live }} On 28 February 2007, the government transferred the Commonwealth's remaining 17% stake in Telstra, valued at A$8.9 billion, into the Fund.{{cite news|url=http://www.news.com.au/business/story/0,23636,21301482-31037,00.html |title=$9bn Telstra shares in Future Fund |work=News.com.au|date=28 February 2007 }}{{dead link|date=May 2016|bot=medic}}{{cbignore|bot=medic}} These contributions and transfers increased the Fund to over A$50 billion by the end of the 2006-2007 financial year.

In March 2007, the opposition Labor Party announced it would withdraw A$2.7 billion from the Future Fund to finance the National Broadband Network, an initiative to install broadband internet infrastructure across Australia, if it won the 2007 election; this proposal prompted government ministers to proclaim that Labor intended to "raid" the Future Fund for their own means.{{cite news |url=http://www.theage.com.au/news/national/labor-seizes-on-libs-future-fund-backing/2007/03/26/1174761379941.html |title=Labor seizes on Lib's Future Fund backing |work=The Age |location=Melbourne |author=Murphy, Katharine |date=28 March 2007 |access-date=18 March 2012 |archive-date=4 September 2011 |archive-url=https://web.archive.org/web/20110904022957/http://www.theage.com.au/news/national/labor-seizes-on-libs-future-fund-backing/2007/03/26/1174761379941.html |url-status=live }} Labor later indicated that the use of any funds from the Future Fund towards a national high speed broadband network will have to comply and meet all requirements of any commercial investment. This included producing a commercial rate of return on the invested funds, with all profits being returned into the Future Fund allowing further investment.

In May 2007, it was revealed that the Chicago-based Northern Trust Corporation had won a competitive tender process to manage the Fund. Rick Waddell, President and Chief Operating Officer of Northern Trust, indicated that Australian companies did not have the expertise to manage the Future Fund.{{cite news |url=http://www.abc.net.au/worldtoday/content/2007/s1932238.htm |work=The World Today, ABC News |location=Australia |title=Northern Trust defends Enron connection |date=24 May 2007 |author=Ryan, Peter |access-date=16 March 2012 |archive-date=4 September 2011 |archive-url=https://web.archive.org/web/20110904022616/http://www.abc.net.au/worldtoday/content/2007/s1932238.htm |url-status=live }} Northern Trust stood to collect A$30 million in annual fees. Controversy arose when it was realised that the Fund will be managed by a foreign bank with no base in Australia. National secretary of the Finance Sector Union Paul Schroder estimated that around 100 jobs will be lost when the US company starts managing the Fund from Singapore using staff from India.{{cite news |url=http://www.abc.net.au/news/indepth/featureitems/s1929545.htm |title=Foreign bank to manage $51b Future Fund |work=ABC News |location=Australia |date=22 May 2007 |author=Alberici, Emma |access-date=16 March 2012 |archive-date=25 July 2008 |archive-url=https://web.archive.org/web/20080725235531/http://www.abc.net.au/news/indepth/featureitems/s1929545.htm |url-status=live }} Northern Trust was linked to the Enron scandal. General Manager of the Future Fund Management Agency, Paul Costello, told a Senate estimates committee hearing that "We were not concerned that this represented a risk to us in terms of the arrangements that we were seeking to put in place with Northern Trust".{{cite news |url=http://www.theage.com.au/news/National/Future-Fund-unfazed-by-Enron-link/2007/05/23/1179601474328.html |title=Future Fund unfazed by Enron link |agency=AAP |work=The Age |location=Australia |date=23 May 2007 |access-date=16 March 2012 }}

In his 2008 Australian federal budget speech, the Treasurer, Wayne Swan announced three new "Nation-Building Funds", also to be managed by the Future Fund Board.{{cite speech |title=Budget Speech 2008‑09 |author=Wayne Swan |author-link=Wayne Swan |date=13 May 2008 |location=Parliament House, Canberra |url=http://www.budget.gov.au/2008-09/content/speech/html/speech-06.htm |access-date=17 March 2012 |archive-date=19 March 2012 |archive-url=https://web.archive.org/web/20120319184222/http://www.budget.gov.au/2008-09/content/speech/html/speech-06.htm |url-status=live }} These included a $20 billion Building Australia Fund to invest in roads, rail, ports and broadband; an $11 billion Education Investment Fund, which absorbed the $6 billion Higher Education Endowment Fund set up by the previous government; and a $10 billion Health and Hospital Fund.{{cite web |url=https://www.legislation.gov.au/C2008A00154/2016-03-05/text |access-date=21 November 2024 |title=Nation-building Funds Act 2008 |date=5 March 2016 |archive-date=21 November 2024 |url-status=live |archive-url=https://archive.today/20241121063214/https://www.legislation.gov.au/C2008A00154/2016-03-05/text |publisher=Federal Register of Legislation}} In that budget and the following 2009 federal budget, the Labor Rudd government promised $41 billion to create these new funds.{{cite news |url=http://www.voguesmsf.com.au/finance/we-wont-raid-44bn-fund-pool-says-pm-kevin-rudd/ |title=We won't raid $44bn fund pool, says PM Kevin Rudd |work=Vogue Financial Solutions |date=15 May 2008 |access-date=18 June 2015 |archive-date=18 June 2015 |archive-url=https://web.archive.org/web/20150618160911/http://www.voguesmsf.com.au/finance/we-wont-raid-44bn-fund-pool-says-pm-kevin-rudd/ |url-status=live }}

The fund become a member of the International Forum of Sovereign Wealth Funds and signed up to the Santiago Principles on best practices for managing Sovereign Wealth Funds.{{cite web|url=http://www.ifswf.org/members |title=IFSWF Our members |author=International Forum of Sovereign Wealth Funds |access-date=24 September 2016 |archive-url=https://web.archive.org/web/20160927094338/http://www.ifswf.org/members |archive-date=27 September 2016}} As a member it publishes how it adopts and implements the principles within its governance procedures.{{cite web |url= http://www.futurefund.gov.au/news-room/2016/05/22/Building-a-long-term-sustainable-sovereign-wealth-fund-under-the-Santiago-Principles |title= Building a long-term sustainable sovereign wealth fund under the Santiago Principles |website= futurefund.gov.au |access-date= 28 October 2016 |archive-date= 29 October 2016 |archive-url= https://web.archive.org/web/20161029043451/http://www.futurefund.gov.au/news-room/2016/05/22/Building-a-long-term-sustainable-sovereign-wealth-fund-under-the-Santiago-Principles |url-status= live }}

In May 2013, a DisabilityCare Australia Fund was established by the DisabilityCare Fund Act 2013. The Fund will fund the National Disability Insurance Scheme and is also to be managed by the Future Fund Board. The Fund is to receive contributions from the increase in the medicare levy by 0.5% to a total of 2% from 1 July 2014.

In the May 2014 federal budget, the Abbott government announced its intention to establish the Medical Research Future Fund{{Cite web |url=http://www.budget.gov.au/2014-15/content/overview/html/overview_12.htm |title=Australian Government Budget 2014-15 |access-date=8 March 2015 |archive-date=16 March 2015 |archive-url=https://web.archive.org/web/20150316073719/http://budget.gov.au/2014-15/content/overview/html/overview_12.htm |url-status=live }} and the Asset Recycling Fund and to discontinue the Building Australia Fund, Education Investment Fund and Health and Hospitals Fund. These changes are subject to the passage of legislation.{{Cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0013/6304/Annual_Report_2013-14.pdf |title=Annual Report 2013-14 |access-date=8 March 2015 |archive-date=28 February 2015 |archive-url=https://web.archive.org/web/20150228225041/http://www.futurefund.gov.au/__data/assets/pdf_file/0013/6304/Annual_Report_2013-14.pdf |url-status=live }} The Senate approved the establishment of the Medical Research Future Fund in August 2015, to be managed by the Future Fund, with interest generated going to medical research, beginning with $10 million in 2015, growing to $390m over the following three years.[http://www.theaustralian.com.au/national-affairs/health/medical-research-future-fund-finally-gets-senate-approval/news-story/46a3f999800a5cfdc0b531bdd013b9f8 Medical Research Future Fund finally gets Senate approval]; The Australian; 13 August 2015

In 2016 it was announced that the Future Fund, Queensland Investment Corporation and AGL Energy would form the Powering Australian Renewables Fund (PARF) investing in two of Australia's largest solar plants at the time.{{cite news |url=http://www.news.com.au/finance/business/breaking-news/agl-signs-up-investors-for-renewables-fund/news-story/cead637aaf864520258dbdbfe63ee84f |title=AGL signs up investors for renewables fund |archive-url=https://web.archive.org/web/20160727155912/http://www.news.com.au/finance/business/breaking-news/agl-signs-up-investors-for-renewables-fund/news-story/cead637aaf864520258dbdbfe63ee84f |archive-date=2016-07-27 |website=News.com.au |first=Prashant |last=Mehra |date=27 July 2016 |agency=AAP}}

In April 2019, the Future Fund announced that it had returned an average of over 10% a year in the last decade.{{Cite web|url=https://www.smh.com.au/business/banking-and-finance/future-fund-returns-top-10-per-cent-for-the-decade-20190428-p51hy3.html|title=Future Fund returns top 10 per cent for the decade|last=Koehn|first=Emma|date=2019-04-28|website=The Sydney Morning Herald|language=en|access-date=2019-08-21|archive-date=21 August 2019|archive-url=https://web.archive.org/web/20190821230733/https://www.smh.com.au/business/banking-and-finance/future-fund-returns-top-10-per-cent-for-the-decade-20190428-p51hy3.html|url-status=live}} In September 2019, the Future Fund reported it had $162.6 billion in assets at the prior June 30, from seed capital of $60.5 billion in 2008, with no contributions made over the period.{{Cite web |last=Daquino |first=Laura |date=3 September 2019 |title=Future Fund stay on top of the markets |url=https://www.theaustralian.com.au/business/wealth/future-fund-stay-on-top-of-the-markets/news-story/12914e533e144e9a61678e7f33b1ba88 |access-date=16 September 2022 |website=The Australian |archive-date=20 September 2022 |archive-url=https://web.archive.org/web/20220920172617/https://www.theaustralian.com.au/business/wealth/future-fund-stay-on-top-of-the-markets/news-story/12914e533e144e9a61678e7f33b1ba88 |url-status=live }}

In November 2024, the Treasurer, Jim Chalmers, and the Finance Minister, Katy Gallagher, announced that the Future Fund will be directed to invest in green energy and housing projects where sustainable.{{cite news |url=https://www.abc.net.au/news/2024-11-20/government-tells-future-fund-to-invest-in-climate-housing/104626936 |archive-url=https://web.archive.org/web/20241121055456/https://www.abc.net.au/news/2024-11-20/government-tells-future-fund-to-invest-in-climate-housing/104626936 |archive-date=21 November 2024 |url-status=live |work=ABC News |title=Government tells Future Fund to invest in climate and housing but preserve focus on returns |date=21 November 2024 |first=Tom |last=Crowley}}

Investments in nuclear weapons and tobacco industries

In May 2011, the Future Fund was criticised by The Age newspaper for investing $135.4 million in 15 foreign-owned companies involved in the manufacture of nuclear weapons for the United States, Britain, France and India.{{cite news |url=http://www.theage.com.au/national/australia-investing-in-nuclear-arms-20110525-1f4fb.html |title=Australia investing in nuclear arms |author=Oakes, Dan |work=The Age |location=Australia |date=26 May 2011 |access-date=16 March 2012 |archive-date=5 March 2012 |archive-url=https://web.archive.org/web/20120305152336/http://www.theage.com.au/national/australia-investing-in-nuclear-arms-20110525-1f4fb.html |url-status=live }} Information about the investments was obtained through a freedom of information request by the International Campaign to Abolish Nuclear Weapons.{{cite press release|url=http://www.icanw.org/files/ICAN-FutureFund.pdf |author=Wright, Tim |publisher=International Campaign to Abolish Nuclear Weapons |date=May 2011 |title=Nuclear weapons and Australia's Future Fund |access-date=16 March 2012 |archive-url=https://web.archive.org/web/20120323144810/http://www.icanw.org/files/ICAN-FutureFund.pdf |archive-date=23 March 2012 }}

In February 2013, the Future Fund announced it would exclude primary tobacco producers from its investment portfolios.{{Cite web |url=https://www.futurefund.gov.au/news-room/2016/08/04/Media-release---Future-Fund-excludes-tobacco-producers?page=2&itemsPerPage=15 |title=Future Fund excludes tobacco producers |access-date=2023-08-28 |website=www.futurefund.gov.au |archive-date=28 August 2023 |archive-url=https://web.archive.org/web/20230828055813/https://www.futurefund.gov.au/news-room/2016/08/04/Media-release---Future-Fund-excludes-tobacco-producers?page=2&itemsPerPage=15 |url-status=live }}

Funds held under management

The total funds held under management, as of 31 December each year, inclusive of funds held in the Building Australia Fund, the Health and Hospitals Fund, the former Education Investment Fund and the DisabilityCare Australia Fund, are:

:

class="wikitable"
Date
(31 Dec)
Total funds
(billions)
Notes
2008align=right|{{profit}} A$59.62{{cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0006/2967/Final_Portfolio_update_31_December_08.pdf |title=Portfolio update at 31 December 2008 |date=30 January 2009 |publisher=Future Fund |access-date=16 March 2012 |archive-date=16 March 2012 |archive-url=https://web.archive.org/web/20120316183919/http://www.futurefund.gov.au/__data/assets/pdf_file/0006/2967/Final_Portfolio_update_31_December_08.pdf |url-status=live }}
2009align=right|{{profit}} A$87.23{{cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0005/3677/Final_Portfolio_update_31Dec09.pdf |title=Portfolio update at 31 December 2009 |date=29 January 2010 |publisher=Future Fund |access-date=16 March 2012 |archive-date=16 March 2012 |archive-url=https://web.archive.org/web/20120316183914/http://www.futurefund.gov.au/__data/assets/pdf_file/0005/3677/Final_Portfolio_update_31Dec09.pdf |url-status=live }}
2010align=right|{{profit}} A$90.51{{cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0014/4226/Portfolio_update_311210_A156700.pdf |title=Portfolio update at 31 December 2010 |date=28 January 2011 |publisher=Future Fund |access-date=16 March 2012 |archive-date=16 March 2012 |archive-url=https://web.archive.org/web/20120316183825/http://www.futurefund.gov.au/__data/assets/pdf_file/0014/4226/Portfolio_update_311210_A156700.pdf |url-status=live }}
2011align=right|{{loss}} A$89.39{{cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0019/4663/Portfolio_update_30Sept11_A211433_.pdf |title=Portfolio update at 31 December 2011 |date=30 January 2012 |publisher=Future Fund |access-date=16 March 2012 |archive-date=16 March 2012 |archive-url=https://web.archive.org/web/20120316182503/http://www.futurefund.gov.au/__data/assets/pdf_file/0019/4663/Portfolio_update_30Sept11_A211433_.pdf |url-status=live }}
2012align=right|{{profit}} A$94.96{{cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0006/5289/2013_January_Portfolio_update_to_Dec_2012_A284955_.pdf |title=Portfolio update at 31 December 2012 |date=5 February 2013 |publisher=Future Fund |access-date=17 March 2013 |archive-date=10 April 2013 |archive-url=https://web.archive.org/web/20130410123520/http://www.futurefund.gov.au/__data/assets/pdf_file/0006/5289/2013_January_Portfolio_update_to_Dec_2012_A284955_.pdf |url-status=live }}
2013align=right|{{profit}} A$107.36{{cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0006/5892/2014_February_Portfolio_update_to_Dec_2013_A339838_.pdf |title=Portfolio update at 31 December 2013 |date=3 February 2014 |publisher=Future Fund |access-date=3 March 2014 |archive-date=23 February 2014 |archive-url=https://web.archive.org/web/20140223181008/http://www.futurefund.gov.au/__data/assets/pdf_file/0006/5892/2014_February_Portfolio_update_to_Dec_2013_A339838_.pdf |url-status=live }}
2014align=right|{{profit}} A$119.47{{cite web |url=http://www.futurefund.gov.au/__data/assets/pdf_file/0016/6433/2015_January_Portfolio_update_to_31_December_2014_A415203.pdf |title=Portfolio update at 31 December 2014 |date=5 February 2015 |publisher=Future Fund |access-date=7 March 2015 |archive-date=27 February 2015 |archive-url=https://web.archive.org/web/20150227180827/http://www.futurefund.gov.au/__data/assets/pdf_file/0016/6433/2015_January_Portfolio_update_to_31_December_2014_A415203.pdf |url-status=live }}
2015align=right|{{profit}} A$128.5{{cite web |url=http://www.futurefund.gov.au/-/media/Files/FutureFund/08---Annual-Reports/2014-15-Future-Fund-Annual-Report.pdf?la=en |title=2014/15 Future Fund Annual Report |date=30 June 2016 |publisher=Future Fund |access-date=14 November 2016 |archive-date=14 November 2016 |archive-url=https://web.archive.org/web/20161114170246/http://www.futurefund.gov.au/-/media/Files/FutureFund/08---Annual-Reports/2014-15-Future-Fund-Annual-Report.pdf?la=en |url-status=live }}
2016align=right|{{profit}} A$139.5{{Cite web|url=https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-30-june-2018.pdf?la=en&hash=AAADE3BAB29EA8CAE548126CDA6FC3868E6768DE|title=2017/18 Future Fund Annual Report|date=29 August 2018|publisher=Future Fund - Australia's Sovereign Wealth Fund|access-date=1 September 2018|archive-date=20 December 2019|archive-url=https://web.archive.org/web/20191220092225/https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-30-june-2018.pdf?la=en&hash=AAADE3BAB29EA8CAE548126CDA6FC3868E6768DE|url-status=live}}
2017align=right|{{loss}} A$138.9{{cite web |url=https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2017.pdf |title=Portfolio update at 31 December 2017 |date=1 February 2018 |publisher=Future Fund |access-date=1 June 2019 |archive-date=1 June 2019 |archive-url=https://web.archive.org/web/20190601022513/https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2017.pdf |url-status=live }}
2018align=right|{{profit}} A$147.0{{cite web |url=https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2018.pdf |title=Portfolio update at 31 December 2018 |date=11 February 2019 |publisher=Future Fund |access-date=1 June 2019 |archive-date=1 June 2019 |archive-url=https://web.archive.org/web/20190601022517/https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2018.pdf |url-status=live }}
2019align=right|{{profit}} A$168.0{{cite web |url=https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2019.pdf |title=Portfolio update at 31 December 2019 |date=11 February 2019 |publisher=Future Fund |access-date=26 April 2019 |archive-date=7 November 2022 |archive-url=https://web.archive.org/web/20221107091258/https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2019.pdf |url-status=live }}
2020

|{{profit}} A$170.9

|{{Cite web|title=Portfolio update at 31 December 2020|url=https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2020.ashx?la=en&hash=E3BA94CE8F604BC795AF8B6A9BE88742A3AB80AB|access-date=27 May 2021|archive-date=12 March 2021|archive-url=https://web.archive.org/web/20210312172716/https://www.futurefund.gov.au/-/media/future-fund---documents/portfolio-updates/portfolio-update-at-31-december-2020.ashx?la=en&hash=E3BA94CE8F604BC795AF8B6A9BE88742A3AB80AB|url-status=live}}

2021

|{{profit}}A$203.6

|{{Cite web |title=Portfolio Update to 31 December 2021 |url=https://www.futurefund.gov.au/news-room/Portfolio-update-to-31-December-2020?page=3&itemsPerPage=15 |access-date=2023-08-31 }}

2022

|{{loss}}A$196.1

|{{Cite web |title=Portfolio update to 31 December 2022 |date=2023-01-02 |url=https://www.futurefund.gov.au/news-room/Portfolio-update-to-31-December-2022?page=0&itemsPerPage=15 |access-date=2023-08-31 |website=Future Fund |archive-date=31 August 2023 |archive-url=https://web.archive.org/web/20230831044910/https://www.futurefund.gov.au/news-room/Portfolio-update-to-31-December-2022?page=0&itemsPerPage=15 |url-status=live }}

2023

|{{profit}}A$211.9

|{{Cite web |title=Portfolio update to 31 December 2023 |date=2024-01-23 |url=https://www.futurefund.gov.au/news-room/Portfolio-update-to-31-December-2023?page=0&itemsPerPage=15 |access-date=2024-01-23 |website=Future Fund}}

See also

References

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