Govt confirms Future Fund's new target
AAP
The Turnbull government has confirmed it has lowered the Future Funds investment target to take into account changed global investment markets conditions.
Treasurer Scott Morrison and Finance Minister Mathias Cormann have issued the new mandate to lower the fund's investment target to at least inflation plus four to five per cent from July 1. That's a reduction of 0.5 percentage points.
"Actuarial analysis indicates global investment market conditions may make it increasingly difficult for the Future Fund Board of Guardians to achieve current returns without taking on excessive risk," the ministers said in a statement on Thursday justifying the decision.
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