Australia’s leading fund managers have united to create wealth for shareholders while also changing the lives of Australia’s most vulnerable children. In an Australian first, the Future Generation Fund (FGX) is a listed company on the Australian Stock Exchange (ASX). It will be giving 1.0% of its Net Tangible Assets each year to charity. This will be about $2 million each year and will grow over time.
Giant Steps is one of the beneficiaries of FGX and this year we are thrilled to announce we have received $118,717.
FGX has an innovative approach to wealth creation proving that shareholder and social returns can be achieved.
FGX was the brain-child of Geoff Wilson, Chairman and Founder of Wilson Asset Management. He was driven to bring scale to corporate philanthropy in Australia through the funds management industry. Geoff knew that fund managers were willing to give back effectively.
FGX was born out of a desire to create wealth through a Listed Investment Company and enable charities that were at the forefront in supporting the most vulnerable children in Australia obtain the capital needed to fund their efforts
FGX offers investors the opportunity to gain unprecedented access to Australia’s most prominent fund managers through a single ASX-listed investment vehicle while also changing the lives of Australia’s children with special needs. The collective experience of the 16 fund managers means the crème de la crème are on board to manage more than $200 million of capital.
Future Generation Investment Company charges 0.0% management fees and 0.0% performance fees. The capital is being managed entirely pro-bono so that 1.0% of net assets each year can be given to Australian charities supporting kids at risk.
The objectives of the Company are to provide shareholders with an attractive investment and to provide a source of funding for Australian children’s charities. This is a step-up from more traditional corporate social responsibility where companies typically focus their support on the local community in which they operate.
FGX’s structure promotes giving as well as wealth creation and hopes that this initiative will inspire the next generation of Australian corporate philanthropy.
Fund Managers Supporting FGX:
For more information about FGX click here.