Future Generation

Listed

September 2015

ASX Code

FGG

30 April 2024

Gross assets
$622.4m
Share price
$1.275
Pre-tax net tangible assets
155.38c
Fully franked full year dividend
7.2cps
Fully franked dividend yield1
5.6%
Grossed up dividend yield2
8.0%
1

Based on the 30 April 2024 share price of $1.275 per share and the FY23 fully franked full year dividend of 7.2 cents per share.

2

Grossed-up dividend yield includes the benefit of franking credits and is based on a tax rate of 30.0%.

Investment Portfolio Performance

Investment portfolio performance at 30 April 2024 Fin YTD 1 yr 3 yrs
%pa
5 yrs
%pa
7 yrs
%pa
Since inception
%pa (Sept-15)
Future Generation Global 9.2% 14.8% 3.2% 7.8% 9.3% 8.6%
MSCI AC World Index (AUD) 10.2% 19.8% 10.5% 11.3% 11.7% 11.0%
Investment Portfolio Outperformance -1.0% -5.0% -7.3% -3.5% -2.4% -2.4%

Investment portfolio performance is before expenses, fees and taxes to compare to the relevant index which is also before expenses, fees and taxes. Future Generation Global's financial year is from 1 January to 31 December.

Global fund managers, supporting children and youth mental health.

Future Generation Global gives investors the opportunity to gain unprecedented access to a group of prominent global fund managers in a single investment vehicle while supporting Australian not-for-profit organisations focused on promoting wellbeing and preventing mental ill-health in young Australians.

Fund managers

Social impact partners

Service providers

Management, Board and Investment Committee

Jennifer Westacott AO

Chair

Jennifer was the Chief Executive of the Business Council of Australia – the leading forum for top companies to contribute to public policy debate – from February 2011 until October 2023. She is currently Chancellor of the University of Western Sydney; a Non-executive Director of Wesfarmers; Chair of the Western Parkland City Authority; and inaugural Chair of the Board of Studio Schools of Australia. Jennifer is a patron of Fairbreak International, a patron of Mental Health Australia, co-patron of Pride in Diversity and a patron of the Pinnacle Foundation.

Caroline Gurney

Chief Executive Officer

Caroline is Chief Executive Officer of Future Generation and has more than 25 years’ experience in the financial services sector focused on marketing, corporate affairs and corporate social responsibility. Caroline has held senior roles at UBS and Citibank and has worked in London, across Asia-Pacific and Australia during her career. She is a member of Ascham School Council and the Centennial Park and Moore Park Foundation, an ambassador for the Australian Indigenous Education Foundation (AIEF), a director of Our Watch, an organisation focused on preventing violence against women and children and set up and was a director of the UBS Australia Foundation. Caroline has also previously served as a director of Future Generation Australia and as a Council Member of Chief Executive Women, and is currently an active member.

Geoff Wilson AO

Founder and Director and Investment Committee Member

Geoff Wilson has more than 44 years’ direct experience in investment markets having held a variety of senior investment roles in Australia, the UK and the US. Geoff founded Wilson Asset Management in 1997 and created Australia’s first listed philanthropic wealth creation vehicles, Future Generation Investment Company Limited and Future Generation Global Investment Company Limited. Geoff holds a Bachelor of Science, a Graduate Management Qualification and is a Fellow of the Financial Services Institute of Australia and the Australian Institute of Company Directors (AICD). Geoff Wilson is currently Chairman of WAM Capital Limited, WAM Leaders Limited, WAM Global Limited, WAM Microcap Limited, WAM Research Limited, WAM Active Limited and WAM Strategic Value Limited. He is the founder and a Director of Future Generation Australia Limited and Future Generation Global Limited and a Director of WAM Alternative Assets Limited. Geoff is also currently an Advisory Board member of Super CRC bid.

Emily Fuller

Social Impact Manager

Emily is the Social Impact Manager for the Future Generation companies. Emily’s experience in the private and not-for-profit sector spans strategy, communications, research, international development and philanthropy. She has deep expertise in strategic philanthropy, social innovation and spent 10 years as foundation manager of the Vincent Fairfax Family Foundation prior to joining Future Generation in 2020. Emily has completed the Senior International Fellows Program at the City University of New York. She is a Director of Mundango Abroad, a private ancillary fund grantmaking in Papua New Guinea and a graduate of the Australian Institute of Company Directors.

Kate Thorley

Director

Kate Thorley has over 20 years’ experience in the funds management industry and more than 25 years of financial accounting and corporate governance experience. Kate is the Chief Executive Officer of Wilson Asset Management, Director of WAM Capital, WAM Leaders, WAM Global, WAM Research, WAM Active, WAM Microcap and WAM Strategic Value. Kate is a Director of Future Generation Australia and Future Generation Global. Kate is a graduate member of the Australian Institute of Company Directors and is a Chartered Accountant.

Kiera Grant

Director & Investment Committee Chair

Kiera Grant has extensive experience as a non-executive Director of public and private companies as well as senior management experience, having spent 20 years in financial markets, most recently as Executive Director, as both an Equities Consumer Lead Analyst and Account Manager at UBS Australia. Kiera serves on the boards of Adairs Ltd and Samuel Smith & Sons Pty Ltd (holding company of the Yalumba Wine Company and Negociants Distribution). She was previously a non executive director of Sydney Dance Company and Pacific Brands Ltd., now part of the Hanesbrands. Kiera chairs the Art Gallery of NSW Foundation and sits on a number of investment committees including The Art Gallery of New South Wales Foundation and the Ascham Foundation.

Sarah Morgan

Director

Sarah served as an Executive Director for corporate advisory firm Grant Samuel for 16 years, before taking up non-executive directorships at a variety of listed, private and not-for-profit organisations. Sarah currently serves on the Boards of Intrepid Group and Adslot Limited where she chairs the Audit and Risk Committees. Sarah is also a Non-executive Director of Skalata Ventures, a seed venture fund manager where she chairs the Investment Committee. Sarah was previously a non executive director of ASX listed Hansen Technologies Limited, Nitro Software Limited and Whispir Limited. Sarah holds a Bachelor of Engineering (Hons) and a Master of Business Administration from the University of Melbourne, and is a graduate and member of the Australian Institute of Company Directors.

Jonathan Nicholas

Director

Jonathan was one of the early staff members of ReachOut, Australia’s leading digital mental health service for young people and their families. He served the organisation for more than 20 years, including as Founding CEO of ReachOut Ireland in 2009 and CEO of ReachOut Australia between 2010 and 2018. In 2018, Jonathan established the Wellbeing Outfit, a consulting business specialising in mental health and wellbeing. Jonathan is also the Chief Mental Health Advisor at EY Oceania and on the Board of Mancave, Roses in the Ocean and TelcoTogether Foundation.

Geoff R Wilson

Director

Geoff’s broad business experience across a range of sectors spans more than 35 years, holding numerous positions with KPMG in Australia, including as CEO in Hong Kong, as COO for Asia Pacific and as a Partner in Silicon Valley. He is a founding member of the Male Champions of Change, a member of the UNSW Business School Advisory Council, former President of the Business Schools alumni network in Hong Kong and has been active in the not-for-profit sector across education and indigenous engagement. Geoff is a graduate member of the Australian Institute of Company Directors (AICD) and a fellow of the Institute of Chartered Accountants in Australia.

Mark Licciardo

Joint Company Secretary

Mark is the founder and Managing Director of Mertons Corporate Services. A former company secretary of Top 50 ASX listed companies Transurban Group and Australian Foundation Investment Company Limited, his expertise includes working with boards of directors in the areas of corporate governance, administration and company secretarial. Mark is a Fellow of the Australian Institute of Company Directors (AICD), the Institute of Company Secretaries and Administrators and the Governance Institute of Australia. Mark is a current director of a number of ASX listed public and private companies and a former Chairman of the Governance Institute of Australia Victoria division, Melbourne Fringe Festival and the Academy of Design Melbourne (LCI Melbourne).

Jesse Hamilton

Joint Company Secretary

Jesse is the Joint Company Secretary of Future Generation Australia and Future Generation Global. Jesse Hamilton is a Chartered Accountant with more than 16 years’ experience working in advisory and assurance services, specialising in funds management. As the Chief Financial Officer, Jesse oversees all finance and accounting of Wilson Asset Management (International) Pty Limited. He is Company Secretary for WAM Alternative Assets Limited and WAM Strategic Value Limited and Joint Company Secretary for WAM Capital Limited, WAM Leaders Limited, WAM Global Limited, WAM Microcap Limited, WAM Research Limited and WAM Active Limited, in addition to Future Generation Investment Company Limited and Future Generation Global Investment Company Limited. Prior to joining Wilson Asset Management, Jesse worked as Chief Financial Officer of an ASX listed company and also worked as an advisor specialising in assurance services, valuations, mergers and acquisitions, financial due diligence and capital raising activities for listed investment companies.

Sean Webster

Investment Committee Member

Sean is Senior Manager – Research and Investment Strategy in Advice-Research at AMP Financial Services. He has a strong research background that spans over 24 years bringing a wealth of investment research and management experience. Sean previously worked at Australian Fund Monitors, a boutique, research house specialising in absolute return funds. Sean has also been Head of Investment Research at Byron Capital Private Investor and a senior analyst with Berkley Group (now Findex) and has experience as an investment manager with Centuria Capital, a multi-manager funds management business. Sean has a strong economics background and experience across all asset classes including equities, fixed interest, property, and alternatives and has a Master of Arts from Clark University, Massachusetts, USA, a Bachelor of Commerce degree and is a Chartered Financial Analyst (CFA).

Gary Brader

Investment Committee Member

Gary joined the Investment Committee in October 2018. Gary has worked at QBE since 2003 and was appointed Group Chief Investment Officer in January 2011. Prior to this, Gary worked at Alliance Capital in London, with 19 years investment experience including time with AXA Investment Managers in London and AXA Australia. He holds a Bachelor of Commerce and Administration.

John Coombe

Investment Committee Member

John is a Principal Consultant and a Director at investment consulting firm JANA and has worked at the firm since 1988. Prior to joining JANA, John’s experience included 10 years at the State Electricity Commission of Victoria (SECV), where he worked in the superannuation, treasury and accounting areas. John holds a Diploma of Business Studies from Footscray Institute of Technology and is a qualified accountant.

Aman Ramrakha

Investment Committee Member

For 5 years, until October 2023, Aman was a Director at Morningstar, overseeing the Manager Research Function and later providing investment consulting to clients. Prior to this, Aman was an Executive Manager at the Commonwealth Bank of Australia where he was responsible for the investment and insurance research function within the Wealth Management Advice Business. In a prior role, Aman was responsible for constructing investment portfolios for high net worth individuals. Aman has over 20 years financial services experience and has held technical, consulting and advisory roles at BT Financial Group, Colonial First State, KPMG and the Commonwealth Private Bank. Aman holds a Bachelor of Commerce, majoring in Economics and Finance, a Graduate Diploma in Applied Finance and Investments, Diploma of Financial Planning and is a Certified Investment Management Consultant.

Martyn McCathie

Investment Committee Member

Martyn has worked with the Investment Committee (IC) for both Future Generation Australia and Future Generation Global since inception, before formally joining the IC in 2022. Martyn has more than 20 years’ experience within financial services, both domestic and overseas and is currently an Investment Specialist at Wilson Asset Management. Prior to joining Wilson Asset Management in 2015, he held several senior operational and compliance roles at a number boutique fund managers and large custodians.

Veronica Klaus

Investment Committee Member

Veronica is the Head of the Lonsec’s Investment Consulting team, and provides advice and input into the portfolio construction process across managed accounts through to model portfolios, including fund research, selection and portfolio construction advice, as well as and asset allocation decisions. She is also responsible for maintaining relationships with key dealer group clients and providing them with tailored solutions. Veronica is also chair of Lonsec’s Manager Selection, Tailored Managed Account and Direct Equities Committees as well as a member of Lonsec’s Asset Allocation Investment Committee. Veronica has over 20 years industry experience commencing her research career at Bridges Financial Services. Veronica holds a Bachelor of Commerce Degree.

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For more information, please call us on +61 29247 9202 or email info@futuregeninvest.com.au