Future Fund Board of Guardians

The Future Fund Board of Guardians (Future Fund Board) is a body corporate with a separate legal identity from the Commonwealth. The Future Fund Board is accountable to the Government for the safekeeping and performance of the Australian Government Investment Funds, and responsible for making decisions about the investment management of the funds in accordance with relevant funds' legislation and investment mandate.

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 External Site 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 [PDF 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 Agency have provided a framework for meeting the Government’s expectations in the Statement of Intent [PDF 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 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 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

Vacant

 

 

 

 

 

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 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 External Site.

Contact information on this page: Funds and Superannuation Branch

Last updated: 12 October 2017