Future Fund Releases Performance
The Future Fund’s return for the calendar year 2011 was 1.6%. The return for the quarter to December 2011 was minus 0.2% and for the first six months of the financial year it was
David Murray, Chair of the Future Fund Board of Guardians said that significant stresses on the global financial system remained. “While there have been some positive signs in the US economy, underlying pressures remain and Europe continues to wrestle with debt-related challenges and the risk of recession. The prospect of a lengthy period of adjustment and subdued economic growth is generally apparent as signalled in global and domestic securities markets.
“In this environment, the Board continues to place a premium on patience and liquidity, ensuring that the portfolio is prudently positioned to take up attractive opportunities while avoiding excessive risk.
“Notwithstanding the current environment, the Future Fund was set up as a long term investment fund and the Fund’s statutory purpose and mandate leads the Board to continue to position the portfolio to achieve its long term objective,” said Mr Murray.”
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