| Good afternoon, The Future Fund, Australia’s $300bn sovereign wealth fund, will cut its US exposure in response to fears President Donald Trump has added “layers of volatility and uncertainty” to the world’s biggest economy. Property developer GemLife has locked in plans to list on the Australian Securities Exchange after raising $750m and is bullish about expanding after buying a major land bank. Gold faces a sharp pullback over the next 18 months, warns US banking major Citi. It is also downbeat on iron ore prices for the near term, writes David Rogers. | 