Future Fund grows to $124 billion

The Future Fund stood at just over $124 billion at the end of the September quarter, returning 5.8 per cent in the past year and beating its target.

Former Liberal treasurer and now chairman of the fund Peter Costello says the fund - which aims to cover the unfunded liabilities of public service superannuation - continues to perform well and has met its benchmark since its inception in May 2006 with a return of 7.6 per cent.

"Like all investors across major global economies, we are facing a low-return environment. We are maintaining a disciplined and prudent approach to finding opportunities," Mr Costello said in a statement on Monday.