Future Fund

Australia US$ 95 Billion Origin: Non-Commodity

Profile Directories

Sovereign Wealth Funds

Public Funds

Established: 2006
Transparency Rating: 10
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Firm Investment Style: Mixed
Entity Structure: Fund
Population Est.: 23.02 million – 2013
Wealth Per Capita Est.: $4,127

Fund Details

Strategy & Objectives

SWF Asset Allocation

Fixed Income Managers

Equity Managers

Alternative Managers

Real Asset Managers

Key Executives and People


Main Office

Future Fund Board of Guardians
Locked Bag 20010
Melbourne VIC 3001
Australia
Telephone: +61 (3) 8656 6400
Fax: +61 (3) 8656 6500

Governance

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Future Fund

Summary

The Australian Government Future Fund is an independently managed investment fund into which the Australian Government deposits its budget surplus.

Background on Australia’s Future Fund

In 2004, Australian Federal Treasurer Peter Costello was keen on offsetting Australia’s debt position by creating a sovereign wealth vehicle. By 2006, Costello helped create the Future Fund.

The Future Fund was established by the Future Fund Act 2006. In the beginning, the Future Fund received seed capital of AUD$ 18 billion in May 2006. The government of Australia transferred the remaining 17% stake in Telstra to the Future Fund on February 28, 2007. The purpose of the sovereign fund is to meet the government’s future liabilities for the payment of superannuation to retired public employees.

Withdrawals from the Future Fund to pay superannuation benefits may only occur once the superannuation liability is fully offset or from July 1, 2020, whichever is the earlier.

Sovereign Wealth Enterprises

  • Future Fund Investment Company No.1 Pty Ltd
  • Future Fund Investment Company No.2 Pty Ltd
  • Future Fund Investment Company No.3 Pty Ltd
  • Future Fund Investment Company No.4 Pty Ltd
  • Future Fund Investment Company No.5 Pty Ltd