The Future Fund, which is one-third the size of the Australian economy, will be directed to invest in housing, security, and the green energy transition “where possible, appropriate, and consistent with strong returns”.
In a joint statement, Treasurer Jim Chalmers and Finance Minister Katy Gallagher committed that “the government won’t start any drawdowns from the fund until at least 2032-33, providing the fund the certainty it needs to continue to build its portfolio”.
It is the first time the federal government has mandated certain asset classes for the Future Fund, formed in 2006 by then-Liberal Treasurer Peter Costello, to fund federal government employee pensions.
