Australia’s Future Fund to invest in housing, infrastructure and energy transition under new mandate

Greg Combet, the chair of the Future Fund board of guardians, says the sovereign wealth fund will appoint a new executive director responsible for the energy transition. Photograph: Mick Tsikas/AAP

Australia’s $230bn sovereign wealth fund will be retooled to help build houses, improve infrastructure and combat global heating under a new investment mandate.

The Albanese government has announced that the independently managed Future Fund will get a new investment mandate and statement of expectations, the latter of which is the first update for the financial asset fund in 15 years.