Wilson Asset Management Chairman Geoff Wilson today announced the launch of listed investment company (LIC) Future Generation Global Investment Company Limited (FGG), which will operate under a dual mandate to create shareholder wealth and make a sustainable social impact. FGG will be the first internationally focused LIC to provide shareholders with diversified exposure to selected global fund managers while changing the lives of young Australians affected by mental illness. Mr Wilson has secured the generous support of prominent global fund managers to replicate the concept he successfully introduced to Australia with the Future Generation Investment Company Limited (FGX) last year. Like FGX, FGG will charge shareholders 0.0% management fees and 0.0% performance fees as the participating fund managers will manage the capital on a pro bono basis. This arrangement allows the company to donate 1.0% of net tangible assets each year to selected Australian non-profits. FGG is seeking to raise up to $550 million for the fund, the largest float for an Australian LIC. Find out more at (VIEW LINK)
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