DEFINITION of 'Australian Future Fund'
A sovereign wealth fund established by the government of Australia. The Australian Future Fund's capital comes from budget surpluses deposited by the Australian government. According to the Sovereign Wealth Fund Institute, the Australian Future Fund has approximately $60 billion in assets under management.
BREAKING DOWN 'Australian Future Fund'
The Australian Future Fund was established in 2006 as part of the Future Fund Act. The fund is governed by a Board of Guardians whose members are appointed for limited terms of service. The Future Fund Board of Guardians and the Future Fund Management Agency also manage the Building Australia Fund, the Education Investment Fund, and the Health and Hospitals Fund. The Australian Future Fund invests in domestic and international equities, private equity funds, real property, infrastructure, debt securities and alternative assets.