Register  
 
 
 
 
 
Future Fund dabbles in India
Tuesday, 3 May 2011 12:50pm

Australia's Future Fund has awarded a new mandate to US-based venture capital firm Bessemer Venture Partners.

The world's 13th largest sovereign wealth fund with $74.6 billion worth of assets under management issued the mandate to Bessemer some time in the March quarter of this year.

Rob Chandra, a California-based partner at Bessemer, said he was delighted to have the Future Fund join as investor in its latest fund.

"Our focus is to generate superior risk adjusted returns by investing equity in and building high growth innovative companies across the globe," he said.

"Our current expectation is to invest this fund in a manner similar to our last fund which suggests an approximate 25% allocation to India."

Chandra said the fund has the flexibility to invest across many sectors and regions of the world wherever they spot the most innovative companies.

"Our fund will invest in technology, health care, infrastructure, consumer products and financial services," he told Financial Standard.

Chandra said the company usually buys equity shares and does not trade in currency.

The Future Fund could not disclose any information about the mandate and could only point to the company's publicly listed website.

The fund manages public money to assist future governments in meeting the cost of public sector superannuation liabilities.

In its March quarter portfolio update, the Future Fund said that it had allocated $2.49 billion, or 3.4 per cent of the fund's value (excluding Telstra shares) to private equity investments.

In the same quarter it allocated $8.48 billion or 11.6 per cent to Australian equities, $19.9 billion or 27.3 per cent to global equities, and $14.2 billion or 19.5 per cent to debt securities. All percentages exclude Telstra shares.

Bessemer was unable to disclose the size of the mandate, but because of the size of the Future Fund it is believed to be worth hundreds of millions of dollars.

News Search   
VideoBrought to you by
Developing investment opportunities
Given the evolution of Australian Equities funds over the last 10 years, how has the Growth team's investment strategy remained relevant? Watch video
Betashares high interest cash ETF
The Betashares high interest cash ETF is currently returning significantly above the default cash rates offered on the larger wrap platforms. Learn more about this product in this exclusive video featured ... Watch video
MAX
We invite you to the 2014 Marketing, Advertising and Sales Excellence (MAX) Forum and Awards, the premiere event for financial services professionals who are raising the standards in marketing, sales and ... Watch video
How to distribute 8% per year from global equities
Investor needs have not changed, what has changed is the level of income available from traditional yield sectors such as cash and bonds. This presentation will cover in detail how investors can diversify ... Watch video
Get it
Daily
FREE to your inbox, get the Financial Standard Daily Email.
Get the Free
iPad app
Download the Financial Standard iPad app for FREE
Industry
Events
APR
20
MAY
28
Asset Allocation 2014 Forum in Sydney,
29
2014 Annual Stockbrokers Conference
JUN
18
MAX: the Marketing, Advertising and Sales Exellence Forum and Awards
APR
28
FPA TASA road shows
29
FPA TASA road shows
News
Bites

$245 (inc GST) for 1 year
 
 
About Us
Contact Us
Privacy Policy
Terms & Conditions
Comments Policy
Events Calendar

Register
Archive
CPD Login
Register

Managed Funds
- Australian
- Global
Superannuation Funds
- Specialist
- Diversified
"Guide To" Series
Product Launches
Showcases

Home
Shows
Learning
Events
Profiles
Showcase
Platform Report
Mandate Chaser
Roundup
Advantage
Benchmarking

FS Advice
FS Super
FS Private Wealth
Copyright © 1992-2014 Rainmaker Group
All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
Link to something OoH1wUBt