Australia's sovereign wealth fund, Future Fund, has warned of further imbalances within the global economy and below average returns.
Future Fund managing director, David Neal, said although the global economy has recovered since the global financial crisis, inequities across economies remain.
“While the global economy has continued to heal following the 2008-09 financial crisis, significant imbalances persist and the potential for missteps and shocks remain,” said Mr Neal.
"We are continuing our disciplined investment approach while striving to be nimble and innovative in identifying and accessing opportunities."
“This means we need to develop and motivate a strong, skilled and aligned team and create value-adding relationships with our external partners’,” he said.
Mr Neal’s comments follow the recognition of the Future Fund as a sovereign investor of the year in the 2016 Central Banking Awards.
Central Banking Awards Committee chairman, Christopher Jeffrey, said the recognition is a result of the fund’s decision not to increase risks in 2015 in the pursuit for returns.
“Instead, it focused on operational framework and improved the speed that it can assess complex investment opportunities on a comparable basis across a range of asset classes in public and private markets,” Mr Jeffrey said.
Future Fund chairman Peter Costello said: "Recognition of the Future Fund as the sovereign investor of the year is a credit to all those who work for the fund and something Australians can be proud of, as the fund invests public money on their behalf."
With AMP set to announce its full-year results in February, the wealth giant is under pressure to announce that anybody other than Ares is i...
The COVID crisis has revealed how central banks have amplified wealth inequality in recent years, according to Schroders, with its head of A...
Australia has seen another drop in unemployment ahead of the removal of JobKeeper. ...
Get notifications in real-time for staying up to date with content that matters to you.
Read More