Year in review
2023–24
The 2023–24 year has again been one of rapid and substantial change occurring both domestically and globally, creating very challenging macroeconomic and market conditions.
The geopolitical backdrop continues to tend towards greater volatility and fractiousness of the kind outlined in our 2021 position paper A New Investment Order.
Our portfolio strategy remains consistent with the implications of recent developments and throughout the year we made over $50 billion of changes across the portfolio, with repositioning occurring across almost all asset classes.
While unpredictability and turmoil continue, we remain optimistic about the opportunities that are available to us as a long-term investor.
This year we welcomed four new Board Members including a new Chair – the Hon Greg Combet AO. Mr Combet has extensive expertise across the Australian economy, Parliament and government, superannuation, investment, the defence industry, climate and emissions reduction policy, and industrial relations.
We also welcomed 42 new staff members, promoted a further 32 into new roles across the Agency and welcomed 12 interns for a four-week period in June.
We added to our infrastructure portfolio with a 19.8% interest in the Victorian EastLink toll road, published a new position paper, spoke at over 60 industry events, and completed 22 strategic business initiatives as we closed out our three-year business strategy.
It was a very busy and rewarding year.
