Australian Government Future Fund
From Taighde
| Australian Government Future Fund | |
|---|---|
| |
| Country: | Australia
|
| Description: | Sovereign Wealth Fund
|
| Chairman: | David Murray
|
| CEO: | Paul Costello
|
| Based in: | Melbourne
|
| Inception: | 2005
|
| Origin: | Non-commodity
|
| Assets: | $61,500
|
| Website: | http://www.futurefund.gov.au/
|
| 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.
Contents |
Leadership
Board of Guardians
| David Murray | Chairman |
| Jeffrey Browne | Board Member |
| Susan Doyle | Board Member |
| John Mulcahy | Board Member |
| Trevor Rowe | Board Member |
| Brian Watson | Board Member |
Senior Management
| 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 |
Investments
Investment Managers
| Manager | Asset class |
| Vanguard Investments | Australian equities |
|
State Street Global Advisors Vanguard Investments |
Global equities |
| Vanguard Investments | Listed property |
|
Colonial First State Global Asset Management Queensland Investment Corporation Reserve Bank of Australia |
Cash |
Timeline
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.
Office
Future Fund Management Agency
Locked Bag 20010
MELBOURNE VIC 3001
AUSTRALIA
Switchboard: (03) 8656 6400
Facsimile: (03) 8656 6500
Email: contact@futurefund.gov.au
