Two new appointments and two re-appointments have been made to the Future Fund Board of Guardians, following the expiry of terms of members appointed at the commencement of the Future Fund in 2006.

 

The new additions to the seven-member Board are Ms Carol Austin,  currently Investment Services Director for Contango Asset Management and on the Board of HSBC Bank Australia;  and Mr Stephen Fitzgerald, Co-Chief Executive Officer and Managing Director of Goldman Sachs & Partners Australia.  Both appointments are for five year terms and will replace Jeffrey Browne and Trevor Rowe AM from early April.

 

Mr David Murray, who has chaired the Board since its inception, has re-appointed to the position for a further term of one year; and Dr John Mulcahy is re-appointed for a further term of four years.

 

The Future Fund was established in 2006 to assist future Australian governments meet the cost of public sector superannuation liabilities by delivering investment returns on contributions to the Fund. The Board of Guardians is responsible for management of  Future Fund investments with support of the Future Fund Management Agency. The Board and Agency also invest the assets of the Building Australia Fund, the Education Investment Fund and the Health and Hospitals Fund which were established by the Nation-building Funds Act 2008. The Board currently manages more than $90 billion and is one of the world’s major sovereign wealth funds.