Future Fund Allocation
The Australian Government has a sovereign wealth fund known as the Future Fund. The Commonwealth Government has run budget surpluses for many years. Once they had paid down most of the national debt they started to accumulate surpluses which in 2006 were allocated to this fund and dedicated to funding previously unfunded defined benefit retirement payments to public servants. The Future Fund's website gives some information on their investment policies:
Tangible Assets: 30%
Alternative Assets: 15%
Based on the PSS(AP) superannuation fund we can guess that 7% is allocated to US equities and therefore 28% to non-US equities. We can then compare this portfolio to the others I already discussed.
Both the PSS(AP) portfolio and Moominmama are almost as close to this allocation as they are to the average US university endowment fund. Moom is slightly closer to this portfolio than to the average US endowment but quite far from both (39% and 43%). Compared to PSS(AP) - which of course is an Australian government defined contribution retirement fund - the Future fund has double the allocation to debt and to real assets and is much lighter in equities and cash.