Australian future fund mandate
18 Oct 2019 Australia's sovereign wealth fund returned a stellar 11.5% in the year to June, but how much did it spend on fees? 13 May 2018 The Future Fund's Raphael Arndt says the game is up for "brand name" The chief investment officer of Australia's $141 billion sovereign wealth one or two basis points through a passive listed equities mandate,” he said. 31 Jan 2017 Australia's Future Fund wants the Turnbull government to “revisit” the “We think it was a proper mandate for the last 10 years, we think it The establishment of Australia's Future Fund was a visionary concept. Elements of its philosophy can provide valuable insights to private investors returns. Each fund we manage has an individual investment mandate. Investment mandates set out the Government's broad expectations of how we will invest the assets of each fund. They set the benchmark return for each fund and the timeframe in which it should be achieved. We balance the risk aspects of each investment mandate to maximise returns.
31 Jan 2017 Australia's Future Fund wants the Turnbull government to “revisit” the “We think it was a proper mandate for the last 10 years, we think it
The Future Fund was established in 2006 to strengthen the Australian Government’s long-term financial position. From 1 July 2017 the Fund’s Investment Mandate is to achieve an average annual return of at least the Consumer Price Index plus 4% to 5% per annum over the long term, with an acceptable but not excessive level of risk. The responsible Ministers issued the Future Fund Investment Mandate Direction 2017 to the Future Fund Board on 15 May 2017. It requires the Future Fund Board adopt a benchmark average return for the Future Fund of “at least the Consumer Price Index (CPI) +4.0 to +5.0 per cent per annum over the long term”. Future Fund Investment Mandate Direction 2017 We, SCOTT MORRISON, Treasurer, and MATHIAS HUBERT PAUL CORMANN, Minister for Finance, g i ve this Direction under subsection 18(1) of the F uture Fund Act 200 6. Dated 15-5-2017 The Future Fund is Australia’s sovereign wealth fund. We invest for the benefit of future generations of Australians. We were established in 2006 to strengthen the Australian Government's long-term financial position. Every dollar that we make is a dollar that adds to Australia's wealth and contributes to its future.
The DisabilityCare Australia Fund and the Nation-building Funds have shorter-term investment horizons. Their investment mandates require us to minimise loss over a 12 month period. The assets of these funds are invested in a combination of short- and medium-term debt instruments.
• The Board is bound by a Future Fund Investment Mandate given to it by the responsible Ministers. • The Future Fund Management Agency is responsible for assisting and advising the Board. Note: The Future Fund Board of Guardians has additional functions under the Nation‑building Funds Act 2008, The Australian Future Fund is an investment fund that the Australian government established in 2006. The fund is designed to generate savings for the benefit of the Australian government and its people in future years. It is made up of five special purpose funds with distinct objectives and investment profiles.
The responsible Ministers issued the Medical Research Future Fund Investment Mandate Direction 2015 to the Future Fund Board on 8 November 2015. It requires the Future Fund Board to adopt a benchmark return of the “average return of at least the Reserve Bank of Australia Cash Rate target + 1.5 to 2.0 per cent per annum, net of investment fees, over a rolling 10-year term”.
The Future Drought Fund Investment Mandate Direction 2019 was issued on 15 November 2019. It requires the Future Fund Board to adopt a benchmark return of the Consumer Price Index + 2.0 per cent to 3.0 per cent per annum, net of investment fees over the long term.
Each fund we manage has an individual investment mandate. Investment mandates set out the Government's broad expectations of how we will invest the assets of each fund. They set the benchmark return for each fund and the timeframe in which it should be achieved. We balance the risk aspects of each investment mandate to maximise returns.
Australian equities: Macquarie Investment Management; Developed market equities: Blackstone Alternative Asset Management; BlackRock Alternative Advisors; Man GLG; State Street Global Advisors; Emerging market equities: State Street Global Advisors; Private equity: Buy out: Advent International Corporation; American Industrial Partners; Apax Partners; Archer Capital We publish quarterly portfolio updates to provide details of the investment activity and performance of the funds. The reports cover the performance of our funds over the quarter, and since inception.
The DisabilityCare Australia Fund and the Nation-building Funds have shorter-term investment horizons. Their investment mandates require us to minimise loss over a 12 month period. The assets of these funds are invested in a combination of short- and medium-term debt instruments.