12 Facts About Future Fund

Future Fund is an independently managed sovereign wealth fund established in 2006 to strengthen the Australian Government's long-term financial position by making provision for unfunded superannuation liabilities for politicians and other public servants that will become payable during a period when an ageing population is likely to place significant pressure on the Commonwealth's finances.

Board of the Future Fund manages another five public asset funds, giving it responsibility for investing over A$210 billion on behalf of the Australian Government.

Legislation establishing the Future Fund describes its main object as being 'to strengthen the Commonwealth's long-term financial position'.

The Investment Mandate for the Future Fund is to target a benchmark return of at least the Consumer Price Index + 4 to 5 per cent per annum over the long term, while taking an acceptable but not excessive level of risk.

Future Fund Board is currently responsible for five other Australian sovereign wealth funds:.

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The Future Fund is overseen by an independent board of guardians selected on the basis of their expertise in investment management and corporate governance.

On 11 September 2004, the Federal Treasurer, Peter Costello, announced that the Future Fund would be established following the 2004 federal election.

Controversy arose when it was realised that the Future Fund will be managed by a foreign bank with no base in Australia.

In May 2013, a DisabilityCare Australia Future Fund was established by the DisabilityCare Australia Future Fund Act 2013.

The Future Fund is to receive contributions from the increase in the medicare levy by 0.

In May 2011 the Future Fund was criticized by The Age newspaper for investing A$135.

In February 2013, the Future Fund announced it would exclude primary tobacco producers from its investment portfolios.