Assets under management: US$66.7bn² (AUS$69.3bn)
Headquarters: Melbourne, Australia
Origin: Budget surpluses
Australian Government Future Fund
Manages the budget surpluses to assist future Australian governments
meet the cost of public sector superannuation liabilities by delivering
investment returns on contributions to the Fund.
Supervised by an independent Board of Guardians.
Provides detailed annual reports and portfolio updates.
The aim of the fund is to hold AUD $140 billion by 2020; this figure
would free up AUD $7 billion in superannuation payments each year from
the federal budget.
In the 2008/9 Australian Government Budget, it was announced that the
Future Fund Board of Guardians will be managing the three new funds
announced by the Government¹:
- Building Australia Fund -to finance critical national
transport and communications infrastructure, including roads,
rail, ports and broadband, that is not being provided by the private
sector or the States.
Initial allocation AUD $20 billion.
- Health and Hospitals Fund - to finance finance health
infrastructure, including spending on hospitals, medical equipments,
medical research facilities and projects.
Initial allocation AUD $10 billion.
- Education Investment Fund - to finance capital investment
in higher education and vocational education and training.
Initial allocation AUD $11 billion
(includes AUD $6 billion from the Higher Education Endowment Fund).
Future Fund Management Agency
Locked Bag 20010
Melbourne VIC 3001
Speech 2008/09 - Investing in the future, 2008-09 Commonwealth Budget
2. Portfolio update at 30 September 2010, Future Fund Home Page, October 29, 2010
Last Updated: 01.12.2010
Sovereign Wealth Funds details