SYDNEY, Aug 4 (Reuters) - Australia’s state pension fund returned 13.9 percent in the year to June 30, growing to A$101 billion ($94.0 billion), it said on Monday.
The Future Fund, created in 2006 by the federal government to pay state employees’ pensions, had targetted a 7.5 percent return to increase its portfolio from A$89 billion a year ago.
Established with contributions of A$60.5 billion, the fund has made an average return of 7.1 percent a year, just shy of its long-term target of 7.2 percent.
Over the past five years the fund has generated 10.9 percent a year.
The fund, which returned a record 17.2 percent in 2013, did not give a break up of its investment exposures.
It will publish final performance and detailed asset allocation data in its annual report in October.
$1 = 1.0747 Australian Dollars Reporting by Swati Pandey; Editing by Richard Pullin