Australia’s Future Fund posted a return of 12.4% in 2025, adding A$29.54 billion (US$20.67 billion) to its portfolio and raising its assets to A$267.4 billion as of end-December, bolstered by investments in “big themes” like artificial intelligence.
The assets were up from A$237.8 billion in 2024 when the sovereign wealth fund earned a return of 12.2% from its investments.
The return in 2025 is an “excellent result” that enhances the Future Fund’s long-term performance, according to Raphael Arndt, chief executive officer of the wealth fund.
“Our positioning around the big themes driving markets, such as the rapid adoption of artificial intelligence, persistent inflation and volatile geopolitics, helped deliver a strong return while managing risk,” he says in a statement announcing the 2025 figures on February 4.
He says the fund’s investments across a range of asset classes, including stocks, private equity, infrastructure and venture capital, contributed to the performance.
“While the US continues to offer attractive opportunities for international investors, we have also continued to seek diversification in our geographic exposures and active returns,” he says.
The Future Fund’s ten-year annualised return in 2025 was 8.5%, beating its 7% target.
