Australia’s Future Fund Wednesday reported a 2.9% gain for its fiscal first quarter ended Sept. 30, lifting the value of its investment portfolio to A$104.5 billion (US$91.7 billion).
The fund also reported a 14.3% gain for its fiscal year ended June 30, an upward revision from the provisional 13.9% gain announced in August.
Echoing other big asset owners that announced fiscal year results in recent months, the Future Fund warned that prospective returns are likely to be low. A statement issued by the fund regarding its latest results said its portfolio “is positioned to be as robust as possible to a range of scenarios.”
As of Sept. 30, the fund reported allocations of 24.4% developed market equities, 9.7% emerging markets equities and 9.0% Australian equities.
Allocations to debt came to 11.3%.
Allocations to non-traditional asset segments included 13.8% to hedge funds; 8.8% to private equity; 7.4% to infrastructure and timber; and 5.8% to property.
Cash accounted for 9.8% of the portfolio.