The Ledger
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Future Fund Held Approximately 80% in Cash When Lehman Brothers Collapsed
“Fortuitously, and through some good decisions made by the people who were here before me, we were sitting with about 80% in cash when layman's went broke.”
Future Fund Deployed 20% Into Credit During 2008 Crisis, Returning 20%
“It was probably about 15 to 20% of the portfolio into credit over about three months. So it was quite a big decision, and clearly that decision paid off very well. Those initial investments returned above 20%.”
Future Fund Finances One-Third of All Australian Medical Research
“We don't just invest the Future Fund, which helps strengthen the Commonwealth Government's balance sheet and help to support the economy through COVID, but we also manage the Medical Research Future Fund that funds about a third of medical research in Australi…”