4 DECEMBER 2024
Future Generation launches Women’s Investment Fund to Drive Gender Equality
• All women management team to waive fees, donating 1 per cent of assets to non-profits supporting women’s economic prosperity and equality
• Minderoo Foundation commits A$100m to kickstart efforts
• Senator the Hon. Katy Gallagher, Minister for Women and Minister for Finance, to launch fund
Sydney Australia, 4 December 2024: Future Generation will today launch a groundbreaking investment fund, aiming to deliver both solid investment returns and tangible strides towards gender equality in Australia.
Managed by women portfolio managers, Future Generation Women will progressively bring a gender lens into investment decisions, with the aim of driving strong gender equity practices. It will also direct 1 per cent of its assets annually to not-for-profit organisations that advance economic equality and opportunity for women and their children in Australia.
A first of its kind in Australia, Future Generation Women will be an unlisted trust in the Future Generation group, which also includes listed investment companies Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG). The group has more than A$1 billion under management and has donated more than A$87 million to Australian non-profits since launching ten years ago.
Supporting Future Generation’s gender equality ambitions, Minderoo Foundation will today commit A$100 million to Future Generation Women. Gender equality is a priority focus for the Australian philanthropic foundation, which is working to forge a fair future by challenging inequalities and campaigning for meaningful change.
Senator the Hon. Katy Gallagher, Minister for Women and Minister for Finance, will join Minderoo and Future Generation in Sydney to formally launch Future Generation Women. Minister Gallagher is a fierce gender equality advocate who has put women’s economic equality at the centre of Government decision making.
Future Generation Women’s portfolio managers, who will provide their investment management expertise on a pro bono basis, were selected by a first-class investment committee. They aim to drive change by progressively bringing a gender-lens into investment decisions at a portfolio level, to further demonstrate how gender conscious action benefits financial outcomes, as well as business and society.
Today’s news follows investment research which consistently shows that women outperform their male counterparts over the long-term, with studies indicating that women’s investment strategies tend to be more diversified, long-term and risk conscious. Despite this, only 19 per cent of portfolio managers in Australia are women and more than two-thirds (67 per cent) of all industry promotions go to men.
Key features of Future Generation Women:
• No Management or Performance Fees for Investors: The fund will provide unit holders with a combination of income and capital growth over the medium-to-long term through investments in Australian and global equities, without charging any management or performance fees.
• Philanthropic Commitment: The fund will donate 1 per cent of assets annually, delivering critical funding to non-profits that advance economic equality and opportunity for women and their children in Australia.
• Gender Lens Investing: The fund aims to invest in companies with a strong track record of gender equity, including gender-diverse leadership, equitable pay, and policies that support work-life balance and the advancement of women.
• 100% Women-Led Management: The fund will be managed initial by a team of 12 women, who are industry leading portfolio managers, ensuring diverse investment strategies.
• Change Catalyst: The fund aims to drive change by creating a pathway for women in finance.
Nicola Forrest AO, Founder of Minderoo Foundation, said: “Future Generation Women is an important and welcomed spotlight on women and their potential in Australia – particularly those in the funds management industry.
“Every year, gender inequality continues to cost Australia A$128 billion. To truly shift the dial and overcome the outdated norms that hold our entire country back, we need changemakers that are ready to speak up, act and embrace collaboration. This is why we’re proud to be standing alongside Future Generation as it champions investment in women.”
Elana Rubin AM, Advisory Member of Future Generation Women, Chair of Australian Business Growth Fund, Non-Executive Director of Telstra and Dexus, and Member of the Board of the Reserve Bank of Australia, said: “At Future Generation Women, we believe that empowering women to take control of their financial futures is an important step towards economic equality. By investing in leading women fund managers, our capital will drive investment returns, help address barriers to women participating in the funds management industry and highlight the capability within the sector. The expertise of our all-women investment team is at the core of our mission: to prove that when women are in charge of their financial destiny, we all rise together.”
Geoff Wilson AO, Founder of Future Generation, said: “We are excited to be launching Australia’s first philanthropic women’s investment fund, utilising the Future Generation model which has proven that investors can do well while doing good. The waiving of all fees by our fund managers and service providers ensures that investor capital is put to work—both in growing wealth for our investors and in advancing the cause of gender equity.”
Caroline Gurney, Chief Executive of Future Generation, said: “Future Generation Women represents the next frontier in investing for impact. By investing in fund managers, companies and non-profits that are striving for gender equity, we’re helping to shape a world where women have the opportunities and resources they need to thrive. Our goal is to see Australia unlock its full potential and become the fair, productive and competitive economy it can be.”
All major service providers to Future Generation Women – including Citigroup, Equity Trustees and Boardroom – have also waived their usual fees.
Carol Schwartz, AO, Chair of Equity Trustees, said: “We are delighted to have been selected as the responsible entity for Future Generation Women. We look forward to working collaboratively with the team and broader stakeholders on this important fund that focuses on both investment and social returns.”
Future Generation Women is now open for investment, with a minimum investment of A$250,000. Wholesale investors who apply before March 31, 2025 will be named as founding investors of Future Generation Women.
About Future Generation Women
Future Generation Women investment fund is managed by a team of women who are leading portfolio managers. The fund seeks to deliver strong returns to investors while also being a catalyst for change and gender equality by funding not for profit organisations that advance economic equality and opportunities for women and their children. Through a commitment to zero fees and strategic investments in companies, the fund aims to create positive change in both the financial and social spheres.
Future Generation Women is part of the Future Generation group, which has more than A$1 billion under management.
For more information, please visit the Future Generation Women webpage or contact:
Caroline Gurney
Chief Executive, Future Generation
+61 403 279 605
Elly McNee
Senior Corporate Affairs Adviser, Future Generation
+61 449 663 178
Ingrid Pyne
Senior Editor, Future Generation
+61 448 607 976
Ben Martin
Minderoo, Advocacy & Engagement
+61 427 366 531
Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Future Generations Women (“the Fund”). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
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