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Future Fund allocates additional AUD2bn to hedge fund strategies

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The Future Fund, Australia’s sovereign wealth fund, is tackling what its chairman has described a “challenging and volatile’ period by allocating a further AUD2 billion to hedge fund strategies while shifting AUD4 billion of its portfolio out of cash, according to a report by Financial review.

In a quarterly update, Chairman Peter Costello revealed that the fund saw a 1.4 per cent decline in assets during the first three months of 2022 as interest rates increased and Russia;’s invasion of neighbouring Ukraine panicked markets. The fund has also moved to close all of its positions in Russian listed stocks but it’s efforts have been hampered by the closure of the the Moscow Stock Exchange and the imposition if international sanctions.

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