Gilmore: Future Fund Benefited from 2008 Crisis Due to Low-Risk Entry
Stephen Gilmore · Stephen Gilmore – CalPERS' Total Portfolio Approach (EP.486) · Feb 9, 2026 · at 12:30
Stephen Gilmore, CalPERS CIO and former Future Fund strategy head, explains how Australia's sovereign wealth fund navigated the 2008 global financial crisis.
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“The Future Fund has actually been one of the beneficiaries of the financial crisis because it had a low risk portfolio going into the crisis. So it had a lot of cash to invest when assets were very cheap.”
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