Futility of Future Fund featured in Intergen report 06 March 2015 4:45PM Ian Rogers Perfection seems to be assumed in framing elements of the 2015 Intergenerational Report.In the period 2014-15 to 2019-20, the assumed target rate of return for the Future Fund "is consistent with the Future Fund Investment Mandate Directions 2006 and the Fund's investment strategy," Treasury stipulate. The investment mandate states that the benchmark annual average return is to be equal to at least the Consumer Price Index, plus 4.5 to 5.5 per cent per annum over the long term and has hovered around 13 per cent recently.Treasury said if net Future Fund earnings are excluded, the difference in the underlying cash balance would be 0.1 per cent of GDP over the 40 year projection period used in the report.