Wealth Fund’s Conflict Warnings Proves Prescient as Bets Pay Off

Australia’s sovereign wealth fund has long warned that waning US hegemony had increased the prospect of global conflicts, and advocated buying gold, other commodities, and inflation-linked bonds. It appears those bets are paying off.

The A$335 billion ($241 billion) Future Fund has also benefited from its decision to shy away from Treasuries, which it found vulnerable due to its view that inflation posed a higher risk than previously envisaged.