Australia’s Future Fund discloses huge profits from weapons manufacturers despite fierce criticisms of support for industry
Value of shares in eight companies rockets amid sharpest increase in military spend since cold war
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Australia’s $250bn sovereign wealth fund has secured huge returns on investment in weapons and defence companies in less than two years, despite long-running criticism of its support for the industry.
The value of shares held in eight companies increased by $76m between October 2023 and June 2025 amid wars in the Middle East and Ukraine and the sharpest increase in military spending since the cold war.