Australia Wealth Fund Told to Invest More in Domestic Assets
- Future Fund assets forecast to grow to A$380 billion by 2033
- Housing, energy, infrastructure investments to be priorities
Homes in Sydney, Australia.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Australia’s sovereign wealth fund will be required to invest more money in domestic housing, energy and infrastructure projects under a new mandate issued by the government.
The directive accompanies a new statement of expectations for the A$230 billion ($150 billion) Future Fund, according to a statement. The government will also defer any withdrawals from the fund until at least 2032-33, by which time it’s projected to be worth A$380 billion.