David Murray addressed a private boardroom lunch for 20 business leaders where he discussed his unique perspective on the current economic and financial situation. This event was generously partnered by PricewaterhouseCoopers.
The Future Fund was established in 2006 to invest its assets to help meet the Commonwealth’s unfunded public sector superannuation liabilities. The Board of Guardians is also responsible for the investment of the Building Australia Fund, Education Investment Fund and Health and Hospitals Fund, each established in January 2009 to enhance the Commonwealth’s ability to create or develop infrastructure.
The Future Fund was valued at $59.6 billion at 31 December 2008, including its holding of some two billion shares in Telstra, which were released from escrow in November 2008. The Government has previously announced its intention that, by 30 June 2009, $12.6 billion, $8.7 billion and $5 billion will be held by the Building Australia Fund, the Education Investment Fund and the Health and Hospitals Fund respectively.
As Chair of the Future Fund, an adviser to the Australian Treasury and having spent 39 years with the Commonwealth Bank, including 13 as its CEO, David Murray has a unique perspective on the current economic and financial situation.
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