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Australia's sovereign fund misses return target, says outlook choppy

August 30, 2023
Source: reuters.com reuters.com
News Snapshot:
The Sydney city centre skyline is seen in Sydney, Australia, August 16, 2020. REUTERS/Loren Elliott/File Photo Acquire Licensing Rights SYDNEY, Aug 30 (Reuters) - Australia's sovereign wealth fund missed its return target for the year to June and its chairman warned on Wednesday that markets were downplaying the risks from China's economic slowdown and rising inflation. Peter Costello, head of the A$206 billion ($133 billion) Future Fund, said that China's "housing investment and debt fuelled growth model" was unravelling, clouding the investment outlook. Persistent wage and service price growth also meant inflation and interest rates were likely to stay high...
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