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FUTURE GENERATION GLOBAL LIMITED — Capital/Financing Update 2015
Sep 9, 2015
64914_rns_2015-09-09_c7bb38b5-314f-45b4-a25b-0e9d15ee215a.pdf
Capital/Financing Update
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ASX Announcement/ Media Release
10 September 2015
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$302.1 million philanthropic investment company lists on ASX
Philanthropic listed investment company, Future Generation Global Investment Company (ASX: FGG), listed on the Australian Securities Exchange (ASX) today, following its $302.1 million initial public offering (IPO).
The capital raised in FGG’s IPO will be invested with prominent global fund managers, providing investors with exposure to global equities while also changing the lives of young Australians affected by mental illness.
At the listing ceremony in Sydney, which coincided with World Suicide Prevention Day, FGG Chairman and University of Sydney Chancellor Belinda Hutchinson celebrated the success of FGG and praised its shareholders.
“Together, Australia’s corporate, investment and philanthropic communities have invested $302.1 million in FGG. We are very grateful to our shareholders who deserve a special thank you for establishing a significant funding base for youth mental health,” Ms Hutchinson said.
Many leading Australian philanthropists, non-profits and corporate investors took part in the IPO, including The Smith Family, Peter Scanlon's Scanlon Foundation, KordaMentha Partners consortium led by Mark Korda and David Winterbottom, and QBE Insurance, which invested $30 million.
FGG Founder and Director Geoff Wilson thanked the participating fund managers, who will manage shareholders’ capital pro bono, foregoing management and performance fees.
“FGG is a perpetual gift from the funds management industry to our future generation,” Mr Wilson said.
“Our fund managers’ outstanding generosity allows FGG to make an annual 1% donation of its net tangible assets to support these non-profits focused on Australian youth mental health,” he said.
Financial support will be provided to nine designated non-profits focused on youth mental health: beyondblue , Black Dog Institute, Brain and Mind Research Institute, Butterfly Foundation for Eating Disorders, headspace, MadCap Social Enterprise, Orygen, ReachOut Australia and Sane Australia.
“The very special people behind our non-profits should be applauded for their outstanding work. We are very proud to support them. We are delighted to be able to provide over $3 million per year to maximise their impact,” Ms Hutchinson said.
Ms Hutchinson said that FGG would transform youth mental health by driving philanthropic investment through community engagement, investing in programs and services and enabling investment in research and development.
“What I love about FGG is that it demonstrates we can combine the objectives of shareholder wealth creation and social returns. Over time, I believe we can help significantly improve the way youth mental healthcare is provided in Australia,” Ms Hutchinson said.
-ENDS-
Level 11, 139 Macquarie Street, Sydney NSW 2000 I GPO Box 4658 Sydney NSW 2001 I ABN: 97 063 935 553 Phone 02 9247 9202 I Fax 02 9247 6855 I [email protected] I www.futuregeninvest.com.au
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Media contacts
James McNamara Geoff Wilson Louise Walsh Chris Donohoe Corporate Affairs Director Joint CEO Joint CEO +61 416 734 080 +61 2 9247 9202 +61 419 416 618 +61 413 315 631 [email protected] [email protected] [email protected] [email protected]
About Future Generation Global Investment Company
Future Generation Global Company (ASX: FGG) is Australia’s first internationally focused listed investment company (LIC) with the dual objectives of providing shareholders with diversified exposure to selected global fund managers and changing the lives of young Australians affected by mental illness. FGG offers investors the opportunity to gain unprecedented access to Australia’s most prominent global fund managers – a number of whom are closed or not accessible to retail investors – through a single ASX-listed investment vehicle. The Company charges 0.0% management fees and 0.0% performance fees. Fund managers are managing the capital entirely pro-bono so that 1.0% of net assets each year can be donated to Australian non-profits committed to young Australians affected by mental health issues.
For more information visit www.futuregeninvest.com.au “Together, we are investing in Australia’s future generation”
Level 11, 139 Macquarie Street, Sydney NSW 2000 I GPO Box 4658 Sydney NSW 2001 I ABN: 97 063 935 553 Phone 02 9247 9202 I Fax 02 9247 6855 I [email protected] I www.futuregeninvest.com.au