By James Thomson

The fund managers who help manage money for the listed Future Generation Global Investment Company spend their days looking for undervalued companies they think will deliver growth.

Now FGG, which gives 1 per cent of its asset base to charity each year, is bringing the same approach to its philanthropic efforts.

FGG, which has donated $18 million to a range of youth mental health initiatives since 2016, is opening up to expressions of interest from not-for-profit organisations for the first time, having previously chosen which groups it would support.

The initiative, under new chief executive Caroline Gurney, is designed to sharpen FGG’s focus on the prevention of youth mental health problems, which it believes is vital to improving the resilience of young people and reducing the number that require care.

The organisations will be offered funding over multiple years, plus additional support to build capacity inside the charities.

There will also be close scrutiny of their impacts – borrowing a little from the returns-focused funds management sector.

FGG fund managers, which include Magellan, Cooper Investors, Antipodes, Caledonia, Paradice Investment Management, Munro, VGI Partners, Marsico Capital Management, Ellerston Capital, WCM Investment Management and Nikko Asset Management, provide their services for free.

The Future Generation LICs were the brainchild of Geoff Wilson.

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