Investment Performance and Financials

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

Financials since inception to 30 June 2017

(Equals) Cash Balance  133,458
 
$ 'millions1
Total Credits
 60,537
(Plus) Net Earnings2  72,921
(Equals) Total Credits and Earnings  133,458
(Less) Debits (Withdrawals)3  0
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.

Refer to the following link for information on the Budget treatment of Future Fund earnings and costs.

Quarterly performance result to 30 June 2017

For the quarter ending on 30 June 2017

Nominal Return
(Per cent per annum)

Benchmark Rate1 
(Per cent per annum)

One year return to date 8.7 6.4
Annualised return since inception2 7.8 6.9
Notes:
1) The quoted benchmark rate of return follows the relevant investment mandate direction.
2) Annualised return since inception on 5 May 2006, when the Fund received its initial credit.

Annual performance results

Financial year

Nominal Returns
(Per cent per annum)

Benchmark Rate1 
(Per cent per annum)

Cash Balance as at 30 June
($ 'millions)

2005-062 6.0 8.5 18,163
2006-07 7.4 6.6 52,320
2007-08 1.5 9.0 64,181
2008-09 -5.1 6.0 61,040
2009-10 10.3 7.6 67,346
2010-113
12.0 8.1 75,393
2011-12 2.1 5.7 77,012
2012-13 15.4 6.9 88,889
2013-14 14.3 7.2 101,590
2014-15 15.4 6.0 117,222
2015-16 4.8 5.5 122,792
2016-17 8.7 6.4 133,458
Notes:
1) The quoted benchmark rate of return follows the relevant investment mandate direction.
2) Annualised figure as first contribution was made on 5 May 2006.
3) Nominal returns to 2010-11 are inclusive of Telstra holdings.

Transfers (Credits) to the Future Fund

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

Total Transfers 
60,537

 

Summary of Transfers
Date
Source of Funds
Amount
($A m)
Documentation
5 May 2006 Initial Seed Capital 18,000 Future Fund (Crediting of initial Amount) Determination and Explanatory Statement 2006 External Site (Explanatory Statement External Site)
22 January 2007 2005-06 Budget Surplus and first instalment of Telstra 3 sale proceeds 18,639 Future Fund (Crediting of Additional Amounts) Determination and Explanatory Statement 2006 External Site (Explanatory Statement External Site)
16 February 2007 The remainder of the 2005-06 Budget Surplus 3,638 Future Fund (Crediting of Additional Amounts) Determination and Explanatory Statement 2007 External Site (Explanatory Statement External Site)
28 February 2007 2,104,657,933 Telstra shares 8,966

PDF version:
Future Fund (Balance Day – Telstra Shareholding) Determination 2007 [PDF 51 KB] (Explanatory Statement [PDF 14 KB])

Transfer of Telstra shares amount to the Future Fund [PDF 13 KB]

Word version:
Future Fund (Balance Day – Telstra Shareholding) Determination 2007 [DOC 146 KB] (Explanatory Statement [DOC 85 KB])

Transfer of Telstra shares amount to the Future Fund [DOC 22 KB]

22 June 2007 Telstra 3 sale proceeds (prepayments of the second instalment received in the period February to April 2007) 151 Future Fund (Crediting of Additional Amounts) Determination and Explanatory Statement 2007 (No. 2) External Site (Explanatory Statement External Site)
28 June 2007 21,894,459 Telstra shares 102*

PDF version:
Future Fund (Balance Day – Telstra Shareholding) Declaration 2007 (No. 2) [PDF 59 KB] (Explanatory Statement [PDF 18 KB])

Transfer of Telstra shares amount to the Future Fund [PDF 22 KB]

Word version:
Future Fund (Balance Day – Telstra Shareholding) Declaration 2007 (No. 2) [DOC 146 KB] (Explanatory Statement [DOC 86 KB])

Transfer of Telstra shares amount to the Future Fund [DOC 23 KB]

24 August 2007 2006-07 Budget Surplus 7,000 Future Fund (Crediting of Additional Amounts) Determination 2007 (No. 3) External Site  (Explanatory StatementExternal Site)
25 June 2008 Telstra 3 sale proceeds (second instalment receipts) 3,900 Future Fund (Crediting of Additional Amounts) Determination and Explanatory Statement 2008 External Site (Explanatory Statement External Site)
21 November 2008 35,361,956 Telstra shares 141*

PDF version:
Future Fund (Balance day – Telstra shareholding) Declaration 2008 [PDF 15 KB] (Explanatory Statement [PDF 12 KB])

Explanation of the transfer of Telstra shares to the Future Fund [PDF 16 KB]

Word version:
Future Fund (Balance day – Telstra shareholding) Declaration 2008 [DOC 180 KB] (Explanatory Statement [DOC 8 KB])

Explanation of the transfer of Telstra shares to the Future Fund [DOC 22 KB]

Note: *Telstra shares are valued as at the time of transfer.

Drawdown (Debits) from the Future Fund

Drawdown from the Future Fund to pay superannuation benefits may only occur once the balance of the Future Fund is greater than or equal to the Target Asset Level, or from 1 July 2020, whichever is earlier. Expenses associated with the investment and administration of the Future Fund may be drawn from the Future Fund through its existence.

There has been no drawdown from the Future Fund as at 30 June 2017.

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Contact information on this page: Financial Management Branch

Last updated: 13 October 2017