Lee Hopperton

Future Generation, the $1.4 billion philanthropic investment group, has appointed Lee Hopperton as its inaugural Chief Investment Officer (CIO).

Caroline Gurney, CEO of Future Generation said, “Lee’s appointment adds significant investment and distribution muscle to our operations and will elevate our growth strategy to the next level. We are thrilled to have someone of Lee’s calibre join the team. His understanding of listed equities, extensive industry knowledge and relationships will help boost Future Generation’s reach, as well as our ability to provide both strong shareholder returns and funding to vital social causes.”

Mr Hopperton will work across the three Future Generation funds: the listed investment companies Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG), as well as the newly-launched unlisted trust Future Generation Women. The group has $1.4 billion under management and has donated more than $87 million to Australian non-profits since launching ten years ago.

Mr Hopperton has more than 25 years’ experience in the investment industry, having held senior roles at JP Morgan Chase, Macquarie and Auscap Asset Management. He has worked in Australia, Asia and the United Kingdom. Most recently, Lee was Head of Private Wealth at Perpetual Asset Management.

Lee Hopperton, CIO of Future Generation said, “Future Generation is an incredible model which makes a significant social impact without compromising investment returns. This is a rare and exciting opportunity in financial services as the model has generated solid returns with lower volatility. I am looking forward to ensuring that more people understand just how powerful Future Generation is,” said Mr Hopperton.

The Future Generation funds are managed by leading Australian and global fund managers, who waive all management and performance fees so that 1% of the group’s assets can be donated to non-profits that support youth at risk, youth mental health and economic equality for women.

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Philip Lowe

Future Generation Australia (ASX: FGX) is delighted to announce that Dr Philip Lowe, Governor of the Reserve Bank of Australia (RBA) from 2016 to 2023, has joined the company’s Board of Directors as an independent director, effective today, and will become its new Chair following the company’s Annual General Meeting in May 2024.

Dr Lowe will assume the role from former NSW Premier Mike Baird AO, who will remain on the Future Generation Australia Board as an independent director. It is Dr Lowe’s first board appointment since leaving the RBA.

Future Generation Australia, founded in 2014, is Australia’s first listed investment company to provide both investment returns for shareholders and vital investment in Australian not-for-profits, by harnessing the generosity of the finance community. To date, Future Generation Australia and its sister company Future Generation Global (ASX: FGG) have together invested $75.8 million in their social impact partners and other not-for-profits with a focus on children and youth at risk and youth mental health.

Dr Lowe said: “I think the Future Generation model is brilliant. I’ve always strived to be associated with organisations that enhance the welfare of Australians, so it’s a privilege to work with Future Generation Australia’s shareholders and pro bono fund managers to support our most vulnerable youth.”

Mr Baird said: “Phil is one of the finest financial leaders in the country and has demonstrated great integrity throughout his 43 years at the RBA. I am delighted to be working alongside him as a director and believe he will continue to make a huge contribution to Australia – as Future Generation Australia’s Chair and beyond.”

Geoff Wilson AO, Founder and Director of the Future Generation companies, said: “We are excited to work with Phil, who brings a deep understanding of financial markets coupled with a focus on providing both economic and social dividends to the community. His leadership, experience and intellect will add to the Board to help young Australians while delivering returns for shareholders.

“I’d also like to thank Mike for his outstanding leadership of Future Generation Australia for almost two years. Under him, our social investment in youth at risk has grown to $37.8 million and we have continued to deliver on our mission to provide both social and investment returns for our shareholders.”

Caroline Gurney, CEO of Future Generation, said: “Phil had a front-row seat for the Hawke-Keating reforms, the Global Financial Crisis and the economic policy response to Covid-19 – he’s seen it all. To have him bring that level of experience to the Future Generation Australia Board will be invaluable for our shareholders and fund managers. It says a lot about Phil that he – like all our directors – has agreed to waive all usual director fees, so that we can maximise our social investment without compromising shareholder returns.”

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