Future Fund Board of Guardians

The Future Fund Board of Guardians is a body corporate with a separate legal identity from the Government.

The Board is accountable to the Government for the safekeeping and performance of the Funds’ assets.

The Board consists of a Chair and six other members, who are appointed on a part-time basis, for a maximum term of five years, with the possibility of re-appointment.  Board members are appointed by the responsible Ministers, while members’ remuneration is set by the Remuneration Tribunal.

Section 38 of the Future Fund Act 2006 specifies that Board members are to have:

  • substantial experience or expertise; and
  • professional credibility and significant standing;

in at least one of the following fields:

  • investing in financial assets;
  • the management of investments in financial assets; or
  • corporate governance.

The Board makes its investment decisions (based on its Investment Policies [External Site]) independent of the Government and holds the Funds’ investments in its own name. The Commonwealth of Australia retains ownership of the Funds at all times.

As the nominated Ministers, the Minister for Finance and the Treasurer have presented the Board with a Statement of Expectations [External SitePDF] that articulates the Government’s expectations with respect to the Board’s operations and standards of corporate governance. In response, the Board and Future Fund Management Agency have provided a framework for meeting the Government’s expectations in the Statement of Intent [External Site PDF].

Future Fund Board of Guardians

Name

Appointment Date

Term Expiry

Current Members

Hon Peter Costello AC - Chair

18 December 2009 – Initial
4 February 2014 (Reappointed, as Chair)


3 February 2019

Ms Carolyn Kay

14 April 2015

13 April 2020

Mr John Poynton AO

4 February 2014

3 February 2019

Dr Jane Wilson

14 April 2015

13 April 2020

Ms Erin Flaherty

3 April 2016 

2 April 2021

Mr Michael Wachtel 

3 April 2016

2 April 2021

Vacant

-

-

 

Past Members

Mr David Gonski AC – Former Chair

3 April 2012

11 January 2014

Mr David Murray AO – Former Chair

3 April 2006 – Initial
3 April 2011 - Reappointed


2 April 2012

Mr Jeffrey Browne

3 April 2006

2 April 2011

Ms Susan Doyle

3 April 2006 – Initial
3 April 2009 - Reappointed
3 April 2013 - Reappointed



2 April 2015

Mr Robert Elstone 3 April 2006 6 July 2006 (resigned)

Dr John Mulcahy

3 April 2006 – Initial
3 April 2011 – Reappointed


2 April 2015

Mr John Paterson

18 December 2006

18 December 2009

Mr Trevor Rowe AO

3 April 2006

2 April 2011

Mr Brian Watson

3 April 2006 – Initial
3 April 2009 - Reappointed


2 April 2012

Ms Carol Austin

3 April 2011

2 April 2016

Mr Stephen Fitzgerald

3 April 2011

2 April 2016

Mr Steven Harker

3 April 2012

2 April 2017

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Contact information on this page: Funds and Actuarial Branch

Last updated: 11 July 2017