Future Generation Global donates $2.4m to youth mental health charities

Future Generation Global Company (FGG), has announced an inaugural donation of $2.42m to children and youth mental health charities, following the release of their FY2016 results.

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.

The report also outlined savings of $3.21m delivered from pro bono management, performance and services, a pre-tax profit of $6.07m and 1.0 cent per share inaugural fully franked dividend.

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.

The designated charities have been selected because of their potential to collectively transform youth mental health in Australia. The projects they will undertake through the support of FGG are:

Beyond Blue; Black Dog Institute; Brain and Mind Research Institute; Butterfly Foundation For Eating Disorders; headspace; Orygen

The Investment Committee members include:

Amanda Gillespie, joint CEO of Lonsec Fiscal; Aman Ramrakha, executive manager of Commonwealth Bank of Australia; Sean Webster, research manager of Australian Fund Monitors; and Geoff Wilson, chair & portfolio manager of Wilson Asset Management, all of whom provide their services on a pro bono basis.