Back to the Future Fund - Come on Judith. You have to do better than that.

And so the news breaks. The government has directed the Future Fund to invest in renewables and housing. Another off the books spend.

Let’s just get things clear here. The Future Fund is a dud. It’s performance is mediocre at best and its management certainly don’t deserve the 7 figure salaries they are pulling.

It likes to report such wonderful returns which look comparable to the best performing investment funds. EXCEPT the Future Fund does not pay tax.

Take off 10-15% and its performance barely beats an index fund.

Writing about this in today’s The Australian, Judith Sloan has joined the party:

‘May as well close it down’: This is the end of the Future Fund

But then trying to talk up the virtues of the Future Fund, Judith adds this:

It regularly receives ­exclusive invitations to participate in profitable deals.

Yes. Like Bernie Madoff’s investors were given exclusive invitations. Like crypto scammers offer the less financially literate exclusive invitations.

If what Judith suggests is correct, more is the reason to SHUT.IT.DOWN.