In May 2011 the Future Fund was criticized by The Age newspaper for investing A$135.4 million in 15 foreign-owned companies involved in the manufacture of nuclear weapons for the United States, Britain, France and India.
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On 11 September 2004, the Federal Treasurer, Peter Costello, announces that the Future Fund will be established following the 2004 federal election.
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In March 2007 the opposition Labor Party announced it would withdraw A$2.7 billion from the Future Fund to finance a broadband initiative across Australia if it won the 2007 election; this proposal prompted government ministers to proclaim that Labor intended to "raid" the Future Fund for their own means.
In 2010 the centre was sold as part of the ING Retail Property Fund to a consortium lead by Lend Lease Group and the Australian Government Future Fund in a deal worth $1.4B.
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Examples of these sovereign wealth funds include the Australian Government Future Fund, the Government Pension Fund in Norway, the Stabilization Fund of the Russian Federation, the State Oil Fund of Azerbaijan, Alberta Heritage Savings Trust Fund of Alberta, Canada, and the Future Generations Fund of the State of Kuwait established in 1976.