Auckland’s Future Fund awaits an investment manager
Meanwhile, its proceeds are gathering dust in term deposits.
The Future Fund was created with the $1.31 billion Auckland Council received from the sale of its airport shares.
Auckland's Future Fund returned $17.7 million for its first four months – a net return of just 4.37%.
The return is well under the 7.64% average gross return promised to its parent, Auckland Council, over the long term.
The fund was created by Auckland Mayor Wayne Brown with the $1.31 billion the
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