Australia's Future Fund says yet to make required return

MELBOURNE, Sept 20 Mon Sep 19, 2011 11:23pm EDT

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MELBOURNE, Sept 20 (Reuters) - Australia's sovereign wealth fund, with A$75 billion ($76 billion) under management, said it has not yet met the government's mandated investment return of CPI plus five percent, but expects that will happen.

The Future Fund's chairman David Murray made the comments at a business lunch.

The fund invests through about 70 investment managers and has been defensively positioned in the face of global economic turmoil.

(Reporting by Victoria Thieberger)

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