Original article by Andrew White
The Australian – Page: 19 & 22 : 1-Sep-17
The Future Fund has posted an annual return of 8.7 per cent for 2016-17, compared with its target return of 6.9 per cent. However, chairman Peter Costello says returns and asset values are likely to be affected by an expected rise in interest rates. He adds that the Federal Government’s decision to postpone drawdowns by five years will allow the sovereign wealth fund to cover all unfunded public sector super liabilities, which are forecast to top $A200bn in 2021. The Government will increase what Treasurer Scott Morrison labels "good" debt to fund super liabilities between 2021 and 2026.
AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIA. DEPT OF THE TREASURY, UNIVERSITY OF TASMANIA, QIC LIMITED, PORT OF MELBOURNE