Future Fund
Future Fund is Australia's sovereign wealth fund, managing A$337.2 billion across seven purpose-specific funds on behalf of the Australian Federal Government and investing exclusively through external managers to deliver long-term intergenerational returns.
- Company typePrivate
- Founded2006
- HeadquartersMelbourne, Australia
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Future Fund does
Future Fund is Australia's sovereign wealth fund, established in 2006 under the Future Fund Act 2006 (Cth) with an initial A$60.5 billion endowment to strengthen the Commonwealth's long-term financial position. It is managed by the Future Fund Board of Guardians and the Future Fund Management Agency, operating independently from Government. As at 31 March 2026, the fund manages A$337.2 billion in total funds under management across seven purpose-specific vehicles: the core Future Fund (A$269.1bn), Medical Research Future Fund (A$25.4bn), DisabilityCare Australia Fund (A$18.2bn), Housing Australia Future Fund (A$11.5bn), Future Drought Fund (A$5.5bn), Disaster Ready Fund (A$5.0bn), and Aboriginal and Torres Strait Islander Land and Sea Future Fund (A$2.5bn). The fund invests exclusively through external investment managers as required by legislation, applies a Total Portfolio Approach, and targets CPI plus 4-5% over the long term.
The fund has delivered an 8.6% per annum return over 10 years (exceeding its 7.1% mandate target) and 11.7% over the 12 months to March 2026, contributing A$208.5 billion in cumulative investment returns since inception and adding over A$96 billion in the past five years. Core technology is institutional rather than productised: a Total Portfolio Approach framework, the proprietary "New Investment Order" investment thesis (incorporating geopolitics, inflation, and AI), and the internally developed LUMi AI tool for investment analysis and market insights. Headcount is 251-500 employees across Melbourne headquarters (447 Collins Street) and a Sydney office (100 Market Street).
The business model is that of a sovereign wealth fund, not a commercial asset manager: the fund does not charge fees, does not serve retail or external clients, and reinvests all returns to strengthen the Commonwealth's long-term financial position and fund public-service liabilities (superannuation, NDIS, medical research, housing, disaster readiness). Its 2024 Investment Mandate extension added National Priorities (housing, infrastructure, energy transition) alongside the return mandate, and recent direct deal activity includes cornerstone commitments in United Utilities (£400M, 2026), the Tilt Renewables consortium acquisition (A$750M, 2025), and Series E participation in Gilmour Space Technologies (A$217M, 2026).
Future Fund firmographics
Firmographics- Name
- Future Fund
- Legal name
- Future Fund Board of Guardians
- Website
- https://futurefund.gov.au
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Future Fund is Australia's sovereign wealth fund, managing A$337.2 billion across seven purpose-specific funds on behalf of the Australian Federal Government and investing exclusively through external managers to deliver long-term intergenerational returns.
- Ownership category
- akta.pro rank
Future Fund industry classification
Industry- Product category
- Sovereign Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282), Real Estate Investment Trusts (6798)
- akta.pro primary industry
- Sovereign Wealth Funds (SWFs) (FSAAAGAD)
- akta.pro secondary industry
- Multi-Asset Income Funds (Diversified Income) (FSAAAJAG)
Keywords
Where Future Fund is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Future Fund business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Investment Returns: The Future Fund generates returns through diversified investment portfolio management across global markets. As a sovereign wealth fund, returns are reinvested to strengthen Commonwealth's long-term financial position. The fund targets CPI plus 4-5% over the long term.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Future Fund product offering
Product offeringCore offering
The Future Fund is Australia's sovereign wealth fund, established in 2006 to invest assets on behalf of the Australian Federal Government and strengthen the Commonwealth's long-term financial position. It manages seven distinct funds under a Total Portfolio Approach, investing through external investment managers across global public and private markets, with a long-term return target of CPI plus 4-5%.
Product overview
Future Fund is Australia's sovereign wealth fund, operating as a single unified investment organization that manages multiple distinct funds under a unified investment approach. The core product is the Future Fund itself (A$269.1bn as of March 2026), a sovereign wealth fund established in 2006 to strengthen the Commonwealth's long-term financial position. The organization operates six additional purpose-specific funds: Medical Research Future Fund (A$25.4bn), DisabilityCare Australia Fund (A$18.2bn), Housing Australia Future Fund (A$11.5bn), Future Drought Fund (A$5.5bn), Disaster Ready Fund (A$5.0bn), and Aboriginal and Torres Strait Islander Land and Sea Future Fund (A$2.5bn). Each fund has its own unique investment mandate but benefits from shared investment infrastructure, research capabilities, and operational platform. Total funds under management amount to A$337.2 billion as of March 2026.
Differentiator
Problem solved
Functional benefit
Products and services
- Future Fund (Core Fund) Australia's sovereign wealth fund (A$269.1 billion as of March 2026), investing on behalf of the Australian Federal Government to deliver strong, long-term investment returns for future generations of Australians.
- Medical Research Future Fund A A$25.4 billion fund (as of March 2026) that supports medical research initiatives in Australia, with investment returns contributing to healthcare and medical breakthroughs.
- DisabilityCare Australia Fund A A$18.2 billion fund (as of March 2026) designed to provide long-term financial support for the National Disability Insurance Scheme (NDIS).
- Housing Australia Future Fund A A$11.5 billion fund (as of March 2026) focused on investing in social and affordable housing initiatives across Australia.
- Future Drought Fund A A$5.5 billion fund (as of March 2026) established to build drought resilience and support communities preparing for and responding to drought conditions.
- Disaster Ready Fund A A$5.0 billion fund (as of March 2026), previously named the Emergency Response Fund until March 2023, focused on disaster preparedness and resilience investments.
- Aboriginal and Torres Strait Islander Land and Sea Future Fund A A$2.5 billion fund (as of March 2026) dedicated to supporting economic independence and empowerment of Aboriginal and Torres Strait Islander peoples through land and sea investments.
Companies that use Future Fund
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Future Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature1 record
Future Fund partnerships and signals
Strategic signalScale indicators10 records
Recent moves6 records
Expansion highlights5 records
Future Fund competitors and assessment
Company assessmentDirect peers
- Norges Bank Investment Management (Norway's Government Pension Fund Global): The world's largest SWF (~$1.7T AUM), managing Norway's sovereign petroleum wealth via external managers. Direct comparable: legislated SWF, government owner, multi-asset Total Portfolio Approach targeting long-horizon returns.
- GIC (Singapore): Singapore's sovereign wealth manager (~$770B AUM) with a long-duration, multi-asset mandate. Directly comparable in mandate structure, risk-managed Total Portfolio approach, and global direct + partnership investing.
- Temasek Holdings: Singapore's state-owned investor (~$290B AUM) with portfolio emphasis on alternatives and long-horizon equity. Comparable as a sovereign-owned, multi-decade investor with significant direct stakes and co-investment partnerships.
- New Zealand Superannuation Fund: New Zealand's sovereign pension-style fund (~$80B NZD), previously co-invested with Future Fund on ConnectEast EastLink toll road. Direct comparable as an Australasian government-owned long-horizon fund with similar Total Portfolio philosophy.
- Abu Dhabi Investment Authority (ADIA): One of the world's largest SWFs (~$1T AUM), a direct sovereign wealth comparable with multi-asset global mandate and decades-long investment horizon. Future Fund's hire of Simon Fraser by Abu Dhabi Investment Council highlights the talent market overlap.
- Queensland Investment Corporation (QIC): State-owned Australian investment manager (~$110B AUM) that has co-invested with Future Fund on Tilt Renewables and ConnectEast. Direct partnership-level comparable as another government-affiliated long-horizon Australian institutional investor.
- CPP Investments (Canada Pension Plan): Canadian pension investment manager (~$650B CAD AUM) running a multi-asset, externally-managed mandate with significant direct alternatives exposure. Direct comparable for mandate design and total-portfolio execution.
- PSP Investments (Public Sector Pension Investment Board): Canadian federal public sector pension manager (~$250B CAD AUM) with Total Portfolio approach. Direct comparable as a government-owned, multi-asset, long-horizon institutional investor investing through internal and external managers.
Broad incumbents
- Australia's Public Sector Pension Schemes / AustralianSuper: Australia's largest super funds (AustralianSuper >$300B AUM) operate domestically under similar long-horizon pension-style mandates. Comparable as large Australian institutional investors Future Fund actively partners with and competes against for infrastructure and alternatives allocations.
Emerging players
- Hostplus: Major Australian industry super fund (~$100B AUM) that co-led Gilmour Space Series E with Future Fund. Comparable as an Australian institutional partner with active alternatives and venture co-investment posture that overlaps with Future Fund's mandate expansion.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Future Fund social profiles
Digital presenceFuture Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
Future Fund leadership team
Management profileNumber of profiles
Profiles9 records
Future Fund subsidiaries and ownership
Company hierarchySubsidiaries6 records
Future Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Future Fund M&A and investment
M&A and investmentM&A
Investments63 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Future Fund
What does Future Fund do?
The Future Fund is Australia's sovereign wealth fund, established in 2006 to invest assets on behalf of the Australian Federal Government and strengthen the Commonwealth's long-term financial position. It manages seven distinct funds under a Total Portfolio Approach, investing through external investment managers across global public and private markets, with a long-term return target of CPI plus 4-5%.
Is Future Fund a public or private company?
Future Fund is a private company. It is classified as state government owned and is currently operating.
When was Future Fund founded?
Future Fund was founded in 2006. It employs 251 to 500 people.
Where is Future Fund based?
Future Fund is headquartered in Melbourne, Australia, in the Oceania region.
How does Future Fund make money?
One revenue line is on record: investment Returns.
Who are Future Fund's main competitors?
Direct peers on record are Norges Bank Investment Management (Norway's Government Pension Fund Global), GIC (Singapore), Temasek Holdings, New Zealand Superannuation Fund, Abu Dhabi Investment Authority (ADIA), Queensland Investment Corporation (QIC), CPP Investments (Canada Pension Plan) and PSP Investments (Public Sector Pension Investment Board). Australia's Public Sector Pension Schemes / AustralianSuper is listed as a broad incumbent. Hostplus is listed as an emerging player.
Does Future Fund have an API?
No public API is recorded for Future Fund.
What industry is Future Fund in?
Future Fund's product category is Sovereign Wealth Management. Its primary akta.pro industry code is FSAAAGAD, Sovereign Wealth Funds (SWFs), with a secondary code of FSAAAJAG, Multi-Asset Income Funds (Diversified Income). Its NAICS code is 523940 and its SIC code is 6282.