Future Generation Global Investment Company Limited (Company) - Australia’s first internationally focused listed investment company (LIC) with the dual objectives of providing you with diversified exposure to global equities while also helping to improve the lives of young Australians who are affected by mental health issues.
The Company's charitable objective with the support of the Company's Shareholders, Fund Managers and Service Providers, is to help improve the lives of young people with mental health issues by providing financial support to the Designated Charities. By donating a percentage of its net assets each year, the Company will be a source of funding for Australian youth mental health charities.
The Company is determined to transform youth mental health by driving philanthropic investment in three core areas:
- Helping the community understand the issue
- Investing in the most effective programs and services
- Enabling investment in research and development
Being a shareholder in the Company changes the lives of young Australians who are affected by mental illness. Shareholders are directly responsible for capital being directed to change lives and create impact.
Nearly half (45%) of all Australians will experience a mental health problem over the course of their lives, and one in five will do so in any given year.
Adolescence and young adulthood are in an especially critical period, with 75% of mental health problems first appearing before the age of 25. Timely and appropriate help-seeking, especially during adolescence, can reduce the long-term health, personal, economic and social impact of many of these mental health problems.
The Company currently expects that the annual donation to be an amount equal to 1.0% of the Company's average monthly net tangible assets (NTA) for the relevant financial year.
Other than government, the Company hopes FGG will be the biggest funder in the youth mental health space.
The Company itself is not a deductible gift recipient (DGR) or otherwise classified as a charity and so will be taxed as any other LIC.
Amounts to Charity
The Company’s intention is to donate an aggregate amount of 1.0% of the Company’s assets to Australian charities each year.
The Company will invest in funds managed by selected Australian fund managers who will forgo all management and performance fees. These forgone fees are expected to be more than 1.0% of assets per annum. A number of other service providers have also agreed to provide their services on a pro bono basis.
The benefit of this pro bono support will allow the Company to donate 1.0% of assets per annum to Australian charities with a focus on supporting children at risk. The difference between the forgone fees by service providers, including the fund managers, and the annual donation amount is for the benefit of shareholders.
“How wonderful it is that nobody need wait a single moment before starting to improve the world.”