Australia's sovereign fund posts lower qtr return, warns of uncertain outlook [Reuters (UK)]
TELSTRA CORP S/ADR (TLSYY)
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Source: Reuters
Australia's sovereign fund posts lower qtr return, warns of uncertain outlook - Reuters 2 Min Read SYDNEY, Oct 21 (Reuters) - Australia’s A$165.7 billion sovereign wealth fund on Monday said its return for the three months to September fell 3.4 percentage points to 1.9%, its lowest quarterly gains since December, as it warned of a subdued long-term investment outlook. The Future Fund said its annual return of 11.3% was also slightly lower than the 11.5% it reported the previous quarter, but it still beat its self-imposed return target of 5.6%. “The board remains alert to the uncertain outlook for global growth and the potential for shocks to markets while recognising that accommodative monetary policy continues to support asset prices,” Chairman Peter Costello said in a quarterly statement. “The global economy remains challenged by factors including demographics and debt levels. Adding to this, prospective long-term returns remain lower than in recent years.” Its 10% return over the p
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