Investment Performance and Financials

The Future Fund Board of Guardians (Future Fund Board) publicly discloses the Medical Research Future Fund's (MRFF) asset allocation and investment returns in its quarterly portfolio updates External Site.

Financials since inception to 30 September 2017

(Equals) Cash Balance  6,928
 $ 'millions1
Total Credits  6,669
(Plus) Net Earnings2    320
(Equals) Total Credits and Earnings  6,989
(Less) Debits (Withdrawals)3     61
Notes:
1) Data may not sum due to rounding.
2) Earnings are net of investment and administration fees incurred by the Future Fund Board.
3) This amount represents debits made for policy purposes under the relevant Act.

Quarterly performance result to 30 September 2017

For the quarter ending on 30 September 2017

Nominal Return
(Per cent per annum)

Benchmark Rate1 
(Per cent per annum)

One year return to date 4.3 3.0
Annualised return since inception2 3.9 3.1
Notes:
1) The quoted benchmark rate of return follows the relevant investment mandate direction.
2) Annualised return since inception on 22 September 2015, when the Fund received its initial credit.

Annual performance results

Year

Nominal Returns
(Per cent per annum)

Benchmark Rate1 
(Per cent per annum)

Cash Balance of Fund as at 30 June
($ 'millions)

2015-162 2.1 2.5 3,208
2016-17 4.8 3.0 4,609
Notes:
1) The quoted benchmark rate of return follows the relevant investment mandate direction.
2) The Medical Research Future Fund investment commenced from 22 September 2015.

Transfers (Credits) to Medical Research Future Fund

The following table provides a history of financial transfers to the Medical Research Future Fund, with links to the associated documentation.

Total Transfers
6,668
 
Summary of Transfers
Date
Source of Funds
Amount 
($A m)
Documentation
28 August 2015 Uncommitted balance of the Health and Hospitals Fund 1,010 Medical Research Future Fund (Amount to be Transferred from the Health and Hospitals Fund) Determination 2015External Site (Explanatory Statement External Site)
26 November 2015 Value of health saving measures announced in the 2014-15 Budget and residual amounts from the closure of the Health and Hospitals Fund 2,139 Medical Research Future Fund (Crediting of Amounts) Determination 2015 (No. 1)External Site  (Explanatory Statement External Site)
26 August 2016 Value of health saving measures announced in the 2014-15 Budget and residual amounts from the closure of the Health and Hospitals Fund 1,277 Medical Research Future Fund (Crediting of Amounts) Determination 2016 (No.1)External Site (Explanatory Statement External Site)
3 July 2017 Value of realised health saving measures announced in the 2014-15 Budget 2,242 Medical Research Future Fund (Crediting of Amounts) Determination 2017External Site (Explanatory Statement External Site)

Disbursements (Debits) from the Medical Research Future Fund

The Finance Minister can authorise debits from the Medical Research Future Fund, on request by the Health Minister for the purposes of medical research and innovation. Disbursements can be grants of financial assistance to the States and Territories; grants to bodies referred to in the legislation; or grants to corporate Commonwealth entities. 

Net earnings for a given financial year will be available for drawdown the following financial year, with the credits preserved in perpetuity. The Future Fund Board of Guardians is responsible for determining the maximum annual distribution amount for each financial year.

Details of disbursements from the MRFF are available from the Department of HealthExternal Site

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Contact information on this page: Financial Management Branch

Last updated: 16 November 2017