Costello praised after decision to leave Future Fund

The tenure of Paul Costello as general manager of Australia’s Future Fund is being widely praised following the announced that he will step down at the end of this year.  Costello was the fund’s first employee when it launched in November 2006. He has overseen its growth to A$87 billion ($81 billion) in investments held with some 60 managers around the world, from an initial A$18 billion in cash.  The fund was fortunate to have a fairly large cash holding as the global financial crisi…