Clarke said the new portfolios would also provide more protection against inflation, although the firm was not predicting a significant blow-out in inflation around the world. Mercer generally expects a “slow grinding recovery” to continue over the medium term. Infrastructure and natural resources have been taken out of the alternatives bucket and given their own categories, in recognition of a greater weighting for those investments. Remaining alternatives include things such as insurancelinked securities, mezzanine debt, global tactical asset allocation products and hedge funds.
Investments
The Future Fund delivered a 14.8 per cent one-year return to June 30, 2026, attributing the return to a combination of exposure to commodities, geographic diversification, an increased focus on active management and low exposure to bonds. Newly minted chief investment officer Richard Brandweiner also highlighted strong performance in emerging markets.
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