The Future Fund Board of Guardians (Future Fund Board) is a body corporate with responsibility for managing the investments of the Australian Government Investment funds.
The Future Fund Board makes its investment decisions (based on its Investment Policies) independent of the Government and holds the funds’ investments in its own name, however, the Commonwealth retains ownership of the funds at all times.
Appointment and membership
The Future Fund Board consists of a Chair and six other members, who are appointed by the responsible Ministers on a part-time basis for a maximum term of five years with the possibility of re-appointment. The Remuneration Tribunal sets the Future Fund Board members’ remuneration.
Section 38 of the Future Fund Act 2006 specifies that Future Fund Board members are to have: substantial experience or expertise; and professional credibility and significant standing; in at least one of the following fields:
a) investing in financial assets;
b) the management of investments in financial assets; or
c) corporate governance.
Statement of Expectation and Statement of Intent
The responsible Ministers have presented the Future Fund Board with a Statement of Expectations [190 KB] that articulates the Government’s expectations with respect to the Future Fund Board’s operations and standards of corporate governance. In response, the Future Fund Board and the Future Fund Management Agency have provided a framework for meeting the Government’s expectations in the Statement of Intent [53 KB].
Members of the Future Fund Board of Guardians
|
No. |
Name |
Gender |
State of Residence |
Role |
Term |
|
|---|---|---|---|---|---|---|
|
Start |
End |
|||||
Current Board |
||||||
|
1
|
The Hon Peter Costello AC |
Male |
VIC |
Chair |
04 February 2019 |
03 February 2024 |
|
Chair |
04 February 2014 |
03 February 2019 |
||||
|
Acting Chair |
11 January 2014 |
03 February 2014 |
||||
|
Member |
18 December 2009 |
10 January 2014 |
||||
|
2 |
Ms Erin Flaherty |
Female |
NSW |
Member |
03 April 2016 |
02 April 2021 |
|
3 |
Ms Carolyn Kay |
Female |
NSW |
Member |
14 April 2015 |
13 April 2020 |
|
4 |
Mr John Poynton AO |
Male |
WA |
Member |
04 February 2019 |
03 February 2024 |
|
Member |
04 February 2014 |
03 February 2019 |
||||
|
5 |
Mr Michael Wachtel |
Male |
VIC |
Member |
03 April 2016 |
02 April 2021 |
|
6 |
Dr Jane Wilson |
Female |
QLD |
Member |
14 April 2015 |
13 April 2020 |
|
7 |
Mr John Fraser |
Male |
NSW |
Member |
12 November 2018 |
11 November 2023 |
Past Chairs |
||||||
|
Mr David Gonski AC |
Male |
NSW |
Chair |
03 April 2012 |
11 January 2014 |
|
|
Mr David Murray AO |
Male |
NSW |
Chair |
03 April 2011 |
02 April 2012 |
|
|
03 April 2006 |
02 April 2011 |
|||||
Past Members |
||||||
|
Mr Robert Priestley |
Male |
NSW |
Member |
07 November 2017 |
19 June 2018 |
|
|
Mr Steven Harker |
Male |
NSW |
Member |
03 April 2012 |
02 April 2017 |
|
|
Ms Carol Austin |
Female |
NSW |
Member |
03 April 2011 |
02 April 2016 |
|
|
Mr Stephen Fitzgerald |
Male |
NSW |
Member |
03 April 2011 |
02 April 2016 |
|
|
Ms Susan Doyle |
Female |
NSW |
Member |
03 April 2013 |
02 April 2015 |
|
|
Member |
04 May 2009 |
02 April 2013 |
||||
|
Acting Member |
03 April 2009 |
03 May 2009 |
||||
|
Member |
03 April 2006 |
02 April 2009 |
||||
|
Dr John Mulcahy |
Male |
QLD |
Member |
03 April 2011 |
02 April 2015 |
|
|
Member |
03 April 2006 |
02 April 2011 |
||||
|
Mr Brian Watson |
Male |
VIC |
Member |
04 May 2009 |
02 April 2012 |
|
|
Acting Member |
03 April 2009 |
03 May 2009 |
||||
|
Member |
03 April 2006 |
02 April 2009 |
||||
|
Mr Jeffrey Browne |
Male |
VIC |
Member |
03 April 2006 |
02 April 2011 |
|
|
Mr Trevor Rowe AO |
Male |
NSW |
Member |
03 April 2006 |
02 April 2011 |
|
|
Mr John Paterson |
Male |
VIC |
Member |
18 December 2006 |
17 December 2009 |
|
|
Mr Robert Elstone |
Male |
NSW |
Member |
03 April 2006 |
06 July 2006 |
|
For more information, refer to the Future Fund website.