Future Fund looks to private equity, alternatives
24th Oct 13
Investor Daily reports on recent figures released by Future Fund which shows a shift toward listed equity, infrastructure and private equity during the 12 months to 30 September. Future Fund currently manages $91.7 billion. The biggest mover in the portfolio is developed market equities, which rose to 23.9 compared to 17.7 per cent on 30 September 2012.
Future Fund Chief Investment Officer David Neal said the fund’s private equity investment in distressed or undercapitalised businesses coming out of the global financial crisis has been particularly successful: “By employing very strong, bottom-up skills a number of [our] managers were able to identify those strong organisations … and build up exposures to very good companies at very cheap prices”. But when it comes to the private equity and alternatives section of the portfolio, the Future Fund does not have a "bucket" to fill.