Governance - Overview

The Minister for Finance and Treasurer are the “responsible Ministers” for the Future Fund Act 2006 [External Site], Nation-building Funds Act 2008 [External Site], Medical Research Future Fund Act 2015 and DisabilityCare Australia Fund Act 2013 [External Site].

The Future Fund Board of Guardians (the Board) is a body corporate with a separate legal identity from the Australian Government.  The Board is supported by the Future Fund Management Agency, (the Agency) which is a Government agency subject to the  Public Governance, Performance and Accountability Act 2014 [External Site].

The roles of the Board and Agency are defined in similar ways under the Future Fund Act and Nation-building Funds Act.  In essence, the Board defines the investment strategy for the Future Fund and Nation-building Funds while the Agency is responsible for the operational activities associated with the Funds’ investments.

The Administrative Arrangements Order [External Site] assigns the Department of Finance with responsibility for policy advice on the Future Fund Act, the Nation-building Funds Act, Medical Research and Future Fund Act and DisabilityCare Australia Fund Act.  The Minister for Finance administers these Acts through the Department.

Within the Department, it is primarily the Funds and Actuarial Branch that carries out these responsibilities.  In this regard, for example, the Branch advises the Minister on the Funds’ investment performance, asset transfers to the Funds, the Target Asset Level and appointments to the Board.

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Contact information on this page: Funds Branch

Last updated: 15 September 2017