Goals and objectives
The Future Fund is Australia’s sovereign wealth fund and invests for the benefit of future generations of Australians.
The Fund was established in 2006 to strengthen the Australian Government's long-term financial position. Investment of the Fund is the responsibility of the Future Fund Board of Guardians, supported by the Future Fund Management Agency.
The organisation also invests the assets of five further special-purpose public asset funds which each have specific objectives set out in the relevant legislation. These are the Medical Research Future Fund the Aboriginal and Torres Strait Islander Land and Sea Future Fund, the DisabilityCare Australia Fund, the Future Drought Fund and the Education Investment Fund.
Operating independently from the government the management of each fund is tailored to its specific investment mandate.
How the fund is managed
The functions of both the Future Fund Board of Guardians and the Future Fund Management Agency are set out in legislation. The legislation establishes the independence of the organisation from the government while setting out appropriate accountability arrangements including the publication in Parliament of an annual report and audited financial statements.
The Future Fund’s website provides comprehensive detail on the purpose, investment strategy and performance for each fund invested by the Future Fund Board of Guardians, the funding and withdrawal arrangements and the governance and risk management frameworks for the organisation.
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