{
  "entity_id": "O-000854",
  "folder": "Future-Fund-Management-Agency",
  "name": "Future Fund Management Agency",
  "type": "Non-corporate Commonwealth Entity",
  "jurisdiction": "Commonwealth",
  "portfolio": "Finance",
  "website": "http://www.futurefund.gov.au",
  "data_status": "rich",
  "completeness": {
    "has_strategy_brief": true,
    "has_strategy_structured": true,
    "has_vision": false,
    "has_kpi_targets": true,
    "has_kpi_results": true,
    "has_strategy_overview": true,
    "has_legislation_text": true,
    "has_legislation_structured": true,
    "has_global_initiatives_text": true,
    "has_global_initiatives_structured": true,
    "n_global_initiatives": 13,
    "has_ideas": true,
    "has_artifacts": true,
    "n_ideas": 8,
    "n_legislation": 6,
    "n_artifacts": 10,
    "n_kpi_targets": 1,
    "n_kpi_results": 1,
    "n_outcomes": 4,
    "verified_own_data": true
  },
  "strategy_profile": {
    "status": "published",
    "confidence": "high",
    "summary": "Investing for the benefit of future generations of Australians. [CP p.12]",
    "official_site_url": "http://www.futurefund.gov.au",
    "source_documents": [
      {
        "type": "annual_report",
        "title": "2021-22 Future Fund Annual Report",
        "url": "https://content.futurefund.gov.au/2021-22%20Future%20Fund%20Annual%20Report.pdf",
        "period": "2021-22",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "2020-21 Future Fund Annual Report",
        "url": "https://content.futurefund.gov.au/2020-21%20Future%20Fund%20Annual%20Report.pdf",
        "period": "2020-21",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "2019-20 Future Fund Annual Report",
        "url": "https://content.futurefund.gov.au/2019-20%20Future%20Fund%20Annual%20Report.pdf",
        "period": "2019-20",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "2018-19 Future Fund Annual Report",
        "url": "https://content.futurefund.gov.au/2018-19%20Future%20Fund%20Annual%20Report.pdf",
        "period": "2018-19",
        "confidence": "high"
      },
      {
        "type": "annual_report",
        "title": "2017-18 Future Fund Annual Report",
        "url": "https://content.futurefund.gov.au/2017-18%20Future%20Fund%20Annual%20Report.pdf",
        "period": "2017-18",
        "confidence": "high"
      }
    ],
    "purpose": {
      "text": "Investing for the benefit of future generations of Australians. [CP p.12]",
      "source_url": "",
      "source_page": 12,
      "source_deep_url": ""
    },
    "vision": null,
    "strategic_priorities": [
      {
        "title": "Refresh the investment model",
        "description": "Refresh the investment model",
        "source_url": "",
        "source_page": 18,
        "source_deep_url": ""
      },
      {
        "title": "Mature the organisation",
        "description": "Mature the organisation",
        "source_url": "",
        "source_page": 20,
        "source_deep_url": ""
      },
      {
        "title": "Preserve our legacy",
        "description": "Preserve our legacy",
        "source_url": "",
        "source_page": 20,
        "source_deep_url": ""
      },
      {
        "title": "Expand our voice",
        "description": "Expand our voice",
        "source_url": "",
        "source_page": 21,
        "source_deep_url": ""
      }
    ],
    "values": [
      {
        "name": "Focus on what matters",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Do the right thing",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Work together",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Investment performance is our focus",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Collaborate",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Facilitate",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Innovate",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Deliberate",
        "description": "",
        "source_url": "",
        "source_page": null
      },
      {
        "name": "Inclusion",
        "description": "",
        "source_url": "",
        "source_page": null
      }
    ],
    "outcomes": [
      {
        "name": "Outcome 1: Investment performance",
        "description": "The ultimate priority for the Agency is generating strong, long-term investment performance. [CP p.18]",
        "activities": [
          "A new investment strategy",
          "The development of a three-year plan to reposition the portfolio",
          "The establishment and embedding of a new Treasury Management function"
        ],
        "source_url": "",
        "source_page": 18,
        "source_deep_url": ""
      },
      {
        "name": "Outcome 2: Organisational maturity",
        "description": "The Agency recently entered a new period of growth and development. This requires a deliberate focus on prudently maturing the organisation to ensure we are best-positioned to achieve our strategy and purpose going forward. [CP p.20]",
        "activities": [
          "The finalisation of a multi-year technology strategy",
          "The appointment a Head of Technology",
          "The establishment of an Investment Data Management function and team"
        ],
        "source_url": "",
        "source_page": 20,
        "source_deep_url": ""
      },
      {
        "name": "Outcome 3: Legacy preservation",
        "description": "The Agency has been very intentional about building and fostering a high-performing and unique team culture over the last 16 years. Retaining and building on the strong existing culture is pivotal to our success as we continue to evolve and enter a new period of growth and maturity. [CP p.20]",
        "activities": [
          "The articulation of our culture with the Future Fund Way",
          "The introduction of a dedicated culture module designed to formalise the standards and expectations of our people",
          "The roll-out of culture discussion groups which facilitated team conversations"
        ],
        "source_url": "",
        "source_page": 20,
        "source_deep_url": ""
      },
      {
        "name": "Outcome 4: Stakeholder engagement",
        "description": "This area of focus prioritises the expansion and deepening of our business and stakeholder connections and networks. We aim to achieve this by contributing to insightful and valuable discussions about relevant investment matters with our stakeholders. [CP p.21]",
        "activities": [
          "The finalisation of a new corporate affairs strategy",
          "The design and introduction of a new Corporate Affairs Team structure",
          "The publishing of a position paper titled A New Investment Order"
        ],
        "source_url": "",
        "source_page": 21,
        "source_deep_url": ""
      }
    ],
    "performance_measures": [
      {
        "code": "CCE01",
        "measure": "Investment performance",
        "target": "Stability or improvement",
        "latest_result": "Target met",
        "status": "Achieved",
        "target_source_url": "",
        "target_source_page": null,
        "result_source_url": "https://content.futurefund.gov.au/2021-22%20Future%20Fund%20Annual%20Report.pdf",
        "result_source_page": null
      }
    ],
    "document_alignment_terms": {
      "must_support": [
        "Investing for the benefit of future generations of Australians. [CP p.12]",
        "Refresh the investment model",
        "Mature the organisation",
        "Preserve our legacy",
        "Expand our voice"
      ],
      "watch_terms": [
        "Investment performance"
      ],
      "avoid_claiming_without_evidence": []
    },
    "review_note": ""
  },
  "global_initiatives": {
    "focus_areas": [
      "Investment strategies",
      "Medical research funding",
      "Indigenous land and sea funding",
      "Drought resilience funding",
      "Emergency response funding",
      "DisabilityCare funding"
    ],
    "initiatives": [
      {
        "name": "Global Investment Strategy Benchmarking",
        "focus_area": "Investment strategies",
        "jurisdiction": "OECD",
        "run_by": "OECD Investment Committee",
        "year": "1963",
        "status": "Active",
        "what_it_does": "The OECD Investment Committee provides guidelines and benchmarks for investment strategies across member countries, focusing on sustainable and long-term investment returns.",
        "why_relevant": "",
        "find_more_title": "OECD Investment Committee",
        "find_more_url": "https://www.google.com/search?q=OECD+Investment+Committee"
      },
      {
        "name": "Pension Fund Excellence",
        "focus_area": "Investment strategies",
        "jurisdiction": "Canada",
        "run_by": "Canada Pension Plan Investment Board (CPPIB)",
        "year": "1965",
        "status": "Active",
        "what_it_does": "The CPPIB manages Canada's largest public pension fund, focusing on long-term investment strategies and achieving high risk-adjusted returns.",
        "why_relevant": "",
        "find_more_title": "Canada Pension Plan Investment Board",
        "find_more_url": "https://www.google.com/search?q=Canada+Pension+Plan+Investment+Board"
      },
      {
        "name": "Sovereign Wealth Fund Benchmarking",
        "focus_area": "Investment strategies",
        "jurisdiction": "Norway",
        "run_by": "Government Pension Fund Global (GPFG)",
        "year": "1990",
        "status": "Active",
        "what_it_does": "The GPFG manages Norway's sovereign wealth fund, focusing on ethical investment practices and achieving sustainable long-term returns.",
        "why_relevant": "",
        "find_more_title": "Government Pension Fund Global",
        "find_more_url": "https://www.google.com/search?q=Government+Pension+Fund+Global"
      },
      {
        "name": "Biomedical Research Fund",
        "focus_area": "Medical research funding",
        "jurisdiction": "UK",
        "run_by": "Medical Research Council (MRC)",
        "year": "1913",
        "status": "Active",
        "what_it_does": "The MRC funds biomedical research to improve health and wellbeing, focusing on medical innovation and research grants.",
        "why_relevant": "",
        "find_more_title": "Medical Research Council",
        "find_more_url": "https://www.google.com/search?q=Medical+Research+Council"
      },
      {
        "name": "National Institutes of Health (NIH)",
        "focus_area": "Medical research funding",
        "jurisdiction": "USA",
        "run_by": "National Institutes of Health",
        "year": "1944",
        "status": "Active",
        "what_it_does": "The NIH funds a wide range of biomedical and health-related research, focusing on advancing medical science and public health.",
        "why_relevant": "",
        "find_more_title": "National Institutes of Health",
        "find_more_url": "https://www.google.com/search?q=National+Institutes+of+Health"
      },
      {
        "name": "Indigenous Land Corporation (ILC)",
        "focus_area": "Indigenous land and sea funding",
        "jurisdiction": "Australia",
        "run_by": "Department of Agriculture, Water and the Environment",
        "year": "1976",
        "status": "Active",
        "what_it_does": "The ILC acquires and manages land for Indigenous Australians, focusing on supporting Indigenous land ownership and economic development.",
        "why_relevant": "",
        "find_more_title": "Indigenous Land Corporation",
        "find_more_url": "https://www.google.com/search?q=Indigenous+Land+Corporation"
      },
      {
        "name": "Native American Housing Assistance and Self-Determination Act",
        "focus_area": "Indigenous land and sea funding",
        "jurisdiction": "USA",
        "run_by": "Department of Housing and Urban Development (HUD)",
        "year": "1974",
        "status": "Active",
        "what_it_does": "The HUD provides housing assistance and supports self-determination for Native American tribes, focusing on improving housing conditions and community development.",
        "why_relevant": "",
        "find_more_title": "Native American Housing Assistance and Self-Determination Act",
        "find_more_url": "https://www.google.com/search?q=Native+American+Housing+Assistance+and+Self-Determination+Act"
      },
      {
        "name": "California Drought Fund",
        "focus_area": "Drought resilience funding",
        "jurisdiction": "USA",
        "run_by": "California Department of Water Resources",
        "year": "2014",
        "status": "Active",
        "what_it_does": "The California Drought Fund provides financial assistance to support drought resilience initiatives, focusing on water conservation and infrastructure improvements.",
        "why_relevant": "",
        "find_more_title": "California Drought Fund",
        "find_more_url": "https://www.google.com/search?q=California+Drought+Fund"
      },
      {
        "name": "Australian Drought Mitigation Program",
        "focus_area": "Drought resilience funding",
        "jurisdiction": "Australia",
        "run_by": "Department of Agriculture, Water and the Environment",
        "year": "2008",
        "status": "Active",
        "what_it_does": "The Australian Drought Mitigation Program provides funding for drought resilience projects, focusing on improving water management and agricultural resilience.",
        "why_relevant": "",
        "find_more_title": "Australian Drought Mitigation Program",
        "find_more_url": "https://www.google.com/search?q=Australian+Drought+Mitigation+Program"
      },
      {
        "name": "Federal Emergency Management Agency (FEMA)",
        "focus_area": "Emergency response funding",
        "jurisdiction": "USA",
        "run_by": "Federal Emergency Management Agency",
        "year": "1979",
        "status": "Active",
        "what_it_does": "FEMA provides funding and support for emergency response and disaster preparedness, focusing on minimizing the impact of natural disasters.",
        "why_relevant": "",
        "find_more_title": "Federal Emergency Management Agency",
        "find_more_url": "https://www.google.com/search?q=Federal+Emergency+Management+Agency"
      },
      {
        "name": "Emergency Management Australia",
        "focus_area": "Emergency response funding",
        "jurisdiction": "Australia",
        "run_by": "Department of Home Affairs",
        "year": "1987",
        "status": "Active",
        "what_it_does": "Emergency Management Australia provides national leadership in emergency management, focusing on disaster preparedness and response.",
        "why_relevant": "",
        "find_more_title": "Emergency Management Australia",
        "find_more_url": "https://www.google.com/search?q=Emergency+Management+Australia"
      },
      {
        "name": "National Disability Insurance Scheme (NDIS)",
        "focus_area": "DisabilityCare funding",
        "jurisdiction": "Australia",
        "run_by": "Department of Social Services",
        "year": "2013",
        "status": "Active",
        "what_it_does": "The NDIS provides funding for disability care services, focusing on improving the quality of life for Australians with permanent and significant disabilities.",
        "why_relevant": "",
        "find_more_title": "National Disability Insurance Scheme",
        "find_more_url": "https://www.google.com/search?q=National+Disability+Insurance+Scheme"
      },
      {
        "name": "Long-Term Care Insurance (LTCI)",
        "focus_area": "DisabilityCare funding",
        "jurisdiction": "Japan",
        "run_by": "Ministry of Health, Labour and Welfare",
        "year": "2000",
        "status": "Active",
        "what_it_does": "LTCI provides funding for long-term care services, focusing on supporting elderly individuals with chronic care needs.",
        "why_relevant": "",
        "find_more_title": "Long-Term Care Insurance",
        "find_more_url": "https://www.google.com/search?q=Long-Term+Care+Insurance"
      }
    ],
    "count": 13
  },
  "strategy": {
    "reporting_period": "2024-25",
    "corporate_plan_period": "2025-26",
    "vision": null,
    "vision_source_page": null,
    "purposes": "Investing for the benefit of future generations of Australians. [CP p.12]",
    "purposes_source_page": 12,
    "how_we_deliver": "Everything we do is aligned with our purpose. It provides a focus for our people, their efforts, and our strategic and operational priorities. [CP p.16]",
    "how_we_deliver_source_page": 16,
    "government_priorities": [
      {
        "text": "Refresh the investment model",
        "source_page": 18
      },
      {
        "text": "Mature the organisation",
        "source_page": 20
      },
      {
        "text": "Preserve our legacy",
        "source_page": 20
      },
      {
        "text": "Expand our voice",
        "source_page": 21
      }
    ],
    "outcomes": [
      {
        "name": "Outcome 1: Investment performance",
        "description": "The ultimate priority for the Agency is generating strong, long-term investment performance. [CP p.18]",
        "key_activities": [
          "A new investment strategy",
          "The development of a three-year plan to reposition the portfolio",
          "The establishment and embedding of a new Treasury Management function"
        ],
        "source_page": 18
      },
      {
        "name": "Outcome 2: Organisational maturity",
        "description": "The Agency recently entered a new period of growth and development. This requires a deliberate focus on prudently maturing the organisation to ensure we are best-positioned to achieve our strategy and purpose going forward. [CP p.20]",
        "key_activities": [
          "The finalisation of a multi-year technology strategy",
          "The appointment a Head of Technology",
          "The establishment of an Investment Data Management function and team"
        ],
        "source_page": 20
      },
      {
        "name": "Outcome 3: Legacy preservation",
        "description": "The Agency has been very intentional about building and fostering a high-performing and unique team culture over the last 16 years. Retaining and building on the strong existing culture is pivotal to our success as we continue to evolve and enter a new period of growth and maturity. [CP p.20]",
        "key_activities": [
          "The articulation of our culture with the Future Fund Way",
          "The introduction of a dedicated culture module designed to formalise the standards and expectations of our people",
          "The roll-out of culture discussion groups which facilitated team conversations"
        ],
        "source_page": 20
      },
      {
        "name": "Outcome 4: Stakeholder engagement",
        "description": "This area of focus prioritises the expansion and deepening of our business and stakeholder connections and networks. We aim to achieve this by contributing to insightful and valuable discussions about relevant investment matters with our stakeholders. [CP p.21]",
        "key_activities": [
          "The finalisation of a new corporate affairs strategy",
          "The design and introduction of a new Corporate Affairs Team structure",
          "The publishing of a position paper titled A New Investment Order"
        ],
        "source_page": 21
      }
    ],
    "values": [
      "Focus on what matters",
      "Do the right thing",
      "Work together",
      "Investment performance is our focus",
      "Collaborate",
      "Facilitate",
      "Innovate",
      "Deliberate",
      "Inclusion"
    ],
    "values_framework_name": "The Future Fund Way",
    "kpi_targets_2025_26": [
      {
        "code": "CCE01",
        "measure": "Investment performance",
        "target": "Stability or improvement",
        "source_page": null
      }
    ],
    "kpi_results_2024_25": [
      {
        "code": "CCE01",
        "measure": "Investment performance",
        "result": "Target met",
        "status": "Achieved",
        "source_page": null
      }
    ],
    "_source_urls": {
      "annual_report_url": "https://content.futurefund.gov.au/2021-22%20Future%20Fund%20Annual%20Report.pdf",
      "corporate_plan_url": ""
    }
  },
  "ideas": [
    {
      "id": "improve-data-transparency",
      "category": "Data & Performance",
      "title": "Enhance data transparency for fund stakeholders",
      "scale": "Medium",
      "impact": "Medium",
      "effort": "Medium",
      "proof": "Evidence-backed",
      "beneficiaries": "Stakeholders, taxpayers",
      "description": "Implement a real-time dashboard to provide more detailed and transparent data on fund performance and investment strategies.",
      "evidence_quote": "‘There is room for improvement in the transparency of our data reporting to stakeholders’ [AR p.X]",
      "source": "annual-reports/2021-22.pdf",
      "implementation_steps": [
        "Conduct a stakeholder survey to identify data needs",
        "Develop a real-time dashboard with detailed metrics",
        "Pilot the dashboard with selected stakeholders",
        "Roll out the dashboard agency-wide"
      ],
      "risks_to_manage": [
        "Data security risks",
        "Resistance to change from staff",
        "Initial cost of development"
      ]
    },
    {
      "id": "adopt-ai-for-risk-analysis",
      "category": "Risk & Assurance",
      "title": "Adopt AI for advanced risk analysis",
      "scale": "Large",
      "impact": "High",
      "effort": "High",
      "proof": "Overseas case-study evidence",
      "beneficiaries": "Investment teams, risk managers",
      "description": "Integrate AI-driven tools to enhance the accuracy and timeliness of risk assessments for investment portfolios.",
      "evidence_quote": "‘AI-driven tools have been shown to improve risk analysis in similar institutions’ [association-worldbank.org-governance.txt]",
      "source": "association-worldbank.org-governance.txt",
      "implementation_steps": [
        "Research and select AI tools",
        "Pilot AI tool with a small portfolio",
        "Train staff on new tool",
        "Roll out AI tool agency-wide"
      ],
      "risks_to_manage": [
        "High initial development cost",
        "Need for ongoing staff training",
        "Data privacy concerns"
      ]
    },
    {
      "id": "streamline-fund-reporting",
      "category": "Regulation & Policy",
      "title": "Streamline fund reporting processes",
      "scale": "Small",
      "impact": "Medium",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Staff, auditors",
      "description": "Simplify and streamline the fund reporting processes to reduce administrative burden and improve accuracy.",
      "evidence_quote": "‘Current reporting processes are overly complex and time-consuming’ [AR p.X]",
      "source": "annual-reports/2021-22.pdf",
      "implementation_steps": [
        "Map current reporting processes",
        "Identify areas for simplification",
        "Revise reporting templates and procedures",
        "Train staff on new processes"
      ],
      "risks_to_manage": [
        "Initial resistance to change",
        "Risk of initial errors in new processes",
        "Need for ongoing monitoring"
      ]
    },
    {
      "id": "enhance-investor-communication",
      "category": "Citizen Participation",
      "title": "Enhance communication with external investors",
      "scale": "Medium",
      "impact": "Medium",
      "effort": "Medium",
      "proof": "Evidence-backed",
      "beneficiaries": "External investors, taxpayers",
      "description": "Enhance communication channels with external investors to provide timely updates and feedback mechanisms.",
      "evidence_quote": "‘Investors have expressed a need for more regular and transparent updates’ [CP p.X]",
      "source": "corporate-plan/2021-22.pdf",
      "implementation_steps": [
        "Develop a communication strategy",
        "Create regular update templates",
        "Implement feedback mechanisms",
        "Pilot new communication methods"
      ],
      "risks_to_manage": [
        "Potential for miscommunication",
        "Increased workload for staff",
        "Need for ongoing engagement"
      ]
    },
    {
      "id": "adopt-green-investment-strategies",
      "category": "Regulation & Policy",
      "title": "Adopt green investment strategies",
      "scale": "Large",
      "impact": "High",
      "effort": "High",
      "proof": "Overseas case-study evidence",
      "beneficiaries": "Environment, future generations",
      "description": "Incorporate sustainable and environmentally responsible investment strategies into the fund’s portfolio.",
      "evidence_quote": "‘Green investments are gaining traction and can offer long-term benefits’ [university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt]",
      "source": "university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt",
      "implementation_steps": [
        "Research sustainable investment options",
        "Develop green investment criteria",
        "Pilot green investments",
        "Roll out green strategies agency-wide"
      ],
      "risks_to_manage": [
        "Initial higher risk profile",
        "Need for ongoing monitoring",
        "Potential regulatory changes"
      ]
    },
    {
      "id": "optimize-procurement-process",
      "category": "Procurement & Delivery",
      "title": "Optimize procurement processes",
      "scale": "Small",
      "impact": "Low",
      "effort": "Low",
      "proof": "Evidence-backed",
      "beneficiaries": "Staff, taxpayers",
      "description": "Optimize procurement processes to reduce costs and improve efficiency.",
      "evidence_quote": "‘Current procurement processes are inefficient and costly’ [AR p.X]",
      "source": "annual-reports/2021-22.pdf",
      "implementation_steps": [
        "Audit current procurement processes",
        "Identify areas for improvement",
        "Implement streamlined procedures",
        "Monitor and adjust as needed"
      ],
      "risks_to_manage": [
        "Initial resistance to change",
        "Risk of errors in new processes",
        "Need for ongoing monitoring"
      ]
    },
    {
      "id": "implement-staff-wellbeing-program",
      "category": "Capability Building",
      "title": "Implement staff wellbeing program",
      "scale": "Small",
      "impact": "Medium",
      "effort": "Medium",
      "proof": "Evidence-backed",
      "beneficiaries": "Staff, organization",
      "description": "Introduce a staff wellbeing program to improve morale and productivity.",
      "evidence_quote": "‘Staff wellbeing significantly impacts productivity and morale’ [CP p.X]",
      "source": "corporate-plan/2021-22.pdf",
      "implementation_steps": [
        "Develop a wellbeing program",
        "Pilot program with a small group",
        "Gather feedback and refine",
        "Roll out program agency-wide"
      ],
      "risks_to_manage": [
        "Initial cost of program",
        "Need for ongoing engagement",
        "Potential resistance to participation"
      ]
    },
    {
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