David George (CFA, CAIA), Chapter Head

Head of Debt & Alternatives, Future Fund

CAIA Member since 2006

David is the Head of Debt & Alternatives at the Future Fund, based in Melbourne, Australia.

David joined the Future Fund in April 2008 and leads a team responsible for strategy development and implementation of the debt, cash and public market alternative investment programs. At 30 June 2014, these portfolios were valued at more than A$25bn. This team is also responsible for management of the three Nation Building Fund portfolios. Prior to joining the Future Fund, David was a Principal at Mercer Investment Consulting in Sydney focused on researching managers in the fixed income and alternatives areas. Previously he has held management and analytical roles at Mercer in Toronto, the Royal Bank of Canada and Integra Capital Management.

Future Fund

The Future Fund was established by the Future Fund Act 2006. The object of the fund is to strengthen the Australian Government's long term financial position by making provision for unfunded Commonwealth superannuation liabilities. These liabilities will become payable at a time when an ageing population is likely to place significant pressure on the Australian Government's finances. The Future Fund has received contributions from a combination of budget surpluses, proceeds from the sale of the government's holding of Telstra and the transfer of remaining Telstra shares. The Future Fund Board of Guardians is responsible for deciding how to invest the assets of the fund.

Legislation stipulates that money may not be withdrawn from the Future Fund until 2020 except for the purpose of meeting operating costs or unless the Future Fund's balance exceeds the target asset level as defined by the Future Fund Act. As at 30 September 2014 the Future Fund had A$104.48bn in assets.