The Future Fund Board of Guardians (Future Fund Board) is supported by the Future Fund Management Agency (Agency), which is a non-corporate Government entity subject to the Public Governance, Performance and Accountability Act 2014, within the Finance portfolio.
The Chair of the Future Fund Board is also the Chief Executive of the Agency. In practice, however, the operations of the Agency are overseen by the Chief Executive Officer.
While the Future Fund Board defines the investment strategy for the funds under its responsibility, the Agency is responsible for the operational activities associated with the funds’ investments. The Future Fund Board decides how the funds are to be invested, while the Agency, through external investment managers, ensures that the funds are allocated consistent with those decisions. The Agency also has various ancillary responsibilities such as the provision of administrative services to the Future Fund Board.
For financial reporting purposes, the Future Fund Board and Agency are treated as if they are a single entity.
For more information, refer to the Future Fund website.