Australia’s Future Fund reaches a valuation of A$252 billion, shifting investments from U.S. to Germany and Japan. Fund exceeds target with 12.2% return. A$65.13 billion now in developed markets, up from A$46.83 billion. Australian equity investments rise to A$27.2 billion. CEO cites U.S. political uncertainty as reason for reduced exposure.

Future Fund diversifies portfolio due to U.S. regulatory changes and budget concerns. Focus shifts to continental Europe and Japan for investment opportunities. Property portfolio reduced to A$11.1 billion, credit investments down to A$22.4 billion. Fund increases exposure to developed market currencies and commodities, including gold.

($1 = 1.5161 Australian dollars)

Read more at Yahoo Finance: Australia’s sovereign wealth fund tops $166 billion, reduces US portfolio