Australian Government Future Fund
|Australian Government Future Fund|
|Description:|| Sovereign Wealth Fund
|Chairman:|| David Murray
|CEO:|| Paul Costello
|Based in:|| Melbourne
|Reports||Sovereign Wealth Funds Contact and Information Report|
Australian Government Future Fund is Australia Sovereign Wealth Fund. It was formed in 2004. It has a little more than $61 billion in assets. The fund is controlled by the board of Guardians who direct investment strategy. The vast majority of the fund is managed by several investment fund managers.
Board of Guardians
|Jeffrey Browne||Board Member|
|Susan Doyle||Board Member|
|John Mulcahy||Board Member|
|Trevor Rowe||Board Member|
|Brian Watson||Board Member|
|Paul Costello||General Manager|
|David Neal||Chief Investment Officer|
|Tony Day||Head of Strategy|
|Gary Gabriel||Head of Private Markets|
|Elspeth Lumsden||Investment Director, Equities|
|Mitchell Stack||Investment Director for Fixed Interest and Alternatives|
|Vanguard Investments||Australian equities|
State Street Global Advisors
|Vanguard Investments||Listed property|
Colonial First State Global Asset Management
Queensland Investment Corporation
Reserve Bank of Australia
September 11, 2004:The Future Fund is announced by Treasurer Peter Costello in the lead up to the 2004 federal election.
March 23, 2006: The 'Future Fund Act 2006' receives Royal Assent.
May 5, 2006: AUD $18 billion in seed capital, derived from government surpluses and income from the sale of a third of Telstra in its ongoing privatisation, was deposited into the fund.
February 28, 2007: The Australian Government transferred their remaining 17% stake in Telstra, valued at AUD $8.9 billion, into the fund. This contribution, combined with other transfers, will push the fund to over AUD $50 billion by the end of the 2006-2007 financial year.
Future Fund Management Agency
Locked Bag 20010
MELBOURNE VIC 3001
Switchboard: (03) 8656 6400
Facsimile: (03) 8656 6500