At the listing ceremony in Sydney on September 10, which coincided with World Suicide Prevention Day, Future Generation Global(FGG) Chair and University of Sydney Chancellor Belinda Hutchinson praised the company’s shareholders.
“Together, Australia’s corporate, investment and philanthropic communities have invested $302.1 million in FGG. We are very grateful to our shareholders who deserve a special thank you for establishing a significant funding base for youth mental health,” Hutchinson said.
The capital raised in FGG’s IPO will be invested with prominent global fund managers, providing investors with exposure to global equities while also changing the lives of young Australians affected by mental illness.
FGG founder and director Geoff Wilson thanked the participating fund managers, who will manage shareholders’ capital pro bono, foregoing management and performance fees and described FGG as a “perpetual gift from the funds management industry to our future generation.”
Joint CEO, Louise Walsh, told Generosity she believes FGG will achieve lasting impact.
“FGG is a truly innovative company that, we believe, will make a transformative impact to youth mental health over time,” Walsh said.
“Personally, this experience has been fantastic. I look forward to reaching the many milestones ahead, in particular, FGG’s first donation of $3 million!”
The nine nonprofits chosen as beneficiaries are: Black Dog Institute, Brain and Mind Research Institute, Butterfly Foundation, headspace, MadCap Social Enterprise, Orygen, ReachOut, SANE Australiaand beyondblue.