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SPOTLIGHT: REAL ESTATE
SAID AND DONE
“Over the past few years, the board has been selling down a number of illiquid exposures due to high pricing and to increase portfolio flexibility. Our dynamic approach has been extremely valuable in helping us prepare for and navigate a historic dislocation brought about by covid-19″
Peter Costello, chairman, Future Fund board of guardians
THE BIG NUMBER
The global speculative grade corporate default rate rose to 2.5% in 2019 from 2.1% at the end of 2018 while the number of corporate defaults globally rose to 118, the first triple-digit total since 2016 (source: S&P Global Ratings).