Peter Costello has declined to comment on the "hullabaloo" that is politics at the moment.
The former Liberal treasurer, now chairman of the Future Fund, was asked what effect uncertainty surrounding the next Queensland state government and leadership woes within the Abbott government were having on the fund's investment.
Because the fund had a long-term mandate to 2020, it did not position itself for what's was likely to happen in three to six months' time, Mr Costello told a briefing of the fund on Thursday.
"We try to look through the day-to-day noise of hullabaloo," he said.
And what did he mean by "hullabaloo"?
"Whatever it is, I'd better not say in a briefing from the Future Fund."
The fund that he helped create as treasurer in 2006 has a balance of just over $109 billion after making a 13.2 per cent return in 2014.
Set up to cover future superannuation liabilities of public servants, the fund has now added $48.7 billion to an original contribution of $60.5 billion from the federal government.
Managing director David Neal said an emphasis on a diversification of investments delivered the strong result, adding private equity, property and infrastructure programs significantly outperformed listed markets.
"The decision to increase our US dollar exposure also contributed to the strong calendar year return," he said in a statement.
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