Future Generation

What Future Generation does

Future Generation is an Australian investment management platform founded in 2014 and headquartered in Sydney that operates as a group of public-listed investment companies built around a distinctive fee-waiver model. The firm partners with 35+ leading Australian and global fund managers — including names such as Munro Partners, Antipodes Partners, Magellan, Plato Investment Management, and Eley Griffiths Group — who provide investment management services on a pro bono basis, waiving all management and performance fees. This structure allows Future Generation to channel 1% of assets under management each year (cumulatively $100 million to date) to Australian not-for-profits supporting youth at risk, youth mental health, and the economic advancement of women, while preserving full investment returns for shareholders. Headquartered at Level 26, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000, the firm operates three strategies: Future Generation Australia (ASX: FGX), Future Generation Global (ASX: FGG), and the unlisted Future Generation Women trust.

The platform serves retail and advised individual investors across Australia, distributed through ASX listing, licensed stockbrokers, financial advisers, and direct shareholder engagement via webinars, monthly investment updates, and an annual multi-city national roadshow. Future Generation has over 14,000 shareholders, $1.3 billion in combined assets under management, and a 20,000+ subscriber newsletter base. The business has no proprietary technology layer; its core operating technology consists of standard listed-investment-company infrastructure (ASX listing, share registry, NTA reporting), investor-relations content, and direct-distribution channels. Revenue mechanics are unconventional for asset management: because all management and performance fees are waived by partner fund managers, the company does not earn fee-based revenue; economic value is created through (a) investment returns distributed to shareholders and (b) the 1%-of-AUM social investment paid directly to charity rather than retained.

The firm is created and led-support by Wilson Asset Management, founded by Geoff Wilson AO, with high-profile independent chairs Dr Philip Lowe (former RBA Governor; Chair of Future Generation Australia) and Jennifer Westacott AC (former Business Council of Australia CEO; Chair of Future Generation Global). Operating headcount sits at 11–50 employees, reflecting the lean operating model. A planned 2026 CEO transition at Future Generation Global (Caroline Gurney) introduces near-term leadership risk, though the structural moat — pro bono fund manager participation and the Wilson Asset Management sponsorship — remains in place.

Name

Future Generation

Legal name

Future Generation Australia Limited ABN 97 063 935 553

Website

https://futuregeninvest.com.au

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Future Generation is a Sydney-based Australian investment management platform operating ASX-listed FGX and FGG and the unlisted Future Generation Women trust, partnering with 35+ fund managers who waive fees so 1% of AUM is donated to youth-focused charities.

Ownership category

akta.pro rank

Product category

Listed Investment Companies

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Trusts, Estates, and Agency Accounts (52592)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Listed investment company
• Investment management
• Social impact investing
• Pro bono fund management
• ASX-listed equities

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Management Fees (Waived): Future Generation operates a unique model where fund managers donate their services pro bono, waiving all management and performance fees. The company channels 1% of assets under management each year to Australian not-for-profits supporting youth at risk, youth mental health, and economic advancement of women. Revenue is generated through standard investment returns on the portfolio, not through fee extraction.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Future Generation operates ASX-listed investment companies and an unlisted trust that invest in Australian and global equities through a network of 35+ leading fund managers who donate their management and performance fees pro bono. The unique model channels 1% of assets under management annually to Australian not-for-profits supporting youth at risk, youth mental health, and economic advancement of women.

Product overview

Future Generation is an investment model offering three distinct investment products: Future Generation Australia (ASX: FGX), a listed investment company focused on Australian equities; Future Generation Global (ASX: FGG), a listed investment company focused on global equities; and Future Generation Women, an unlisted trust focused on economic advancement of women. All three strategies operate on the same unique model where leading fund managers serve as pro bono managers, waiving all management and performance fees, allowing the company to channel 1% of assets under management annually to Australian not-for-profits supporting youth at risk, youth mental health, and economic equality for women.

Differentiator

Problem solved

Functional benefit

Brands

• Future Generation Australia (FGX): Listed investment company investing with leading Australian fund managers while supporting children facing adversity
• Future Generation Global (FGG)
• Future Generation Women

Products and services

• Future Generation Australia ASX-listed investment company (ASX: FGX) that invests in Australian equities through leading Australian fund managers who waive all management and performance fees; 1% of assets are channeled annually to Australian not-for-profits supporting youth at risk.
• Future Generation Global ASX-listed investment company (ASX: FGG) that invests in global equities through leading global fund managers who waive all fees; 1% of assets are directed annually to youth mental health charities.
• Future Generation Women Unlisted trust that invests with leading women fund managers who waive fees, with 1% of assets directed annually to support economic equality for Australian women and their children.

Quantifiable outcome

• 14.1% portfolio return in H2 2025, outperforming All Ordinaries by 4 percentage points
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• Boardroom Pty LimitedminorOthersProvides share registry services including investor communication, voting services, and processing of security holdings for Future Generation's listed entities.
• Pro Bono Fund Managers (35+)coreStrategic or Co-development Partner35+ leading Australian and global fund managers including Munro Partners, Antipodes Partners, Eley Griffiths Group, Plato Investment Management, Magellan Financial Group, and others who donate investment management services.
• Social Impact PartnerscoreStrategic or Co-development PartnerAustralian not-for-profit organisations receiving 1% of assets annually, including youth mental health organisations, charities supporting youth at risk, and programs advancing women's economic equality.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Magellan Financial Group: Major ASX-listed global equities asset manager and one of Future Generation's pro bono fund managers. Comparable as a large-scale Australian-affiliated equities manager but operates on a traditional fee model with much broader product range.
• Pendal Group: ASX-listed diversified asset manager with Australian and global equities capabilities. Comparable as a competitor for Australian retail investor capital and a potential alternative to Future Generation's underlying mandates.
• Perpetual Limited: ASX-listed Australian wealth and asset manager offering Australian equities, global equities, and ESG products. Direct competitor for advised retail investor allocations and an established brand in the same channel.

Direct peers

• WAM Capital: ASX-listed investment company managed by Wilson Asset Management, founded by Geoff Wilson AO. Sister vehicle that shares the WAM origination engine and small-cap Australian equities focus with Future Generation.
• Antipodes Partners: Australian global equities manager and a named pro bono partner for Future Generation Global. Comparable as a long-only global equities boutique operating in the same Australian distribution channels.
• Platinum Asset Management: ASX-listed global equities manager and a named pro bono fund manager for Future Generation Global. Comparable as a listed Australian equities manager with concentrated global mandates, though Platinum operates on conventional fees.
• Ellerston Capital: Australian boutique investment manager running both listed and unlisted strategies across Australian and global equities. Comparable as a competing boutique platform targeting similar high-net-worth and advised Australian investors.
• Resolution Capital: Australian boutique manager specialising in listed real assets and infrastructure LICs. Comparable as an ASX-listed boutique LIC platform competing for the same pool of yield- and impact-oriented Australian retail investors.
• Hearts and Minds Investments: ASX-listed investment company (ASX: HM1) that pools capital with leading fund managers and donates a portion of performance to Australian medical research charities. Structurally the closest analog to Future Generation's charitable-LIC model.

Emerging players

• BetaShares: Leading Australian ETF provider with a growing range of ESG and impact-screened ETFs. Comparable as a competing low-cost vehicle for Australian retail investors seeking impact-aligned equities exposure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/futuregeninvest
• YouTubeyoutube.com/channel/UChzeQm4tS1_EXCNbvBbgwHA
• Facebookfacebook.com/futuregenerationFGXFGG
• LinkedInlinkedin.com/company/future-generation-investment
• Instagraminstagram.com/futuregeninvest

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Future Generation