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Fourth quarter equities rally boosts Future Fund returns

Jonathan Shapiro
Jonathan ShapiroSenior reporter
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Key Points

  • The Future fund gained 8pc in 2023 as assets increased to $211.9b 
  • The fund fell short of its return target of inflation plus 4.5 per cent.
  • Outgoing chairman Peter Costello says inflation risks have not fully abated

The Future Fund, Australia’s $212 billion sovereign wealth fund, delivered an 8 per cent return in calendar 2023, adding $15.3 billion to the nation’s coffers.

The fund, which has been sounding the warning on high inflation, was a beneficiary of the strong fourth-quarter rally in equity markets as its fund’s assets rose 3.2 per cent, or by $6.6 billion, in October-December.

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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
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    Original URL: https://www.afr.com/companies/financial-services/future-fund-returns-8pc-in-2023-costello-warns-on-inflation-20240123-p5ezbf