Future Generation Investment Company Ltd (ASX: FGX) has beaten its benchmark by 3.2% and recorded a maiden pre-tax profit of $15 million.
It's only a short period of time though – Future Generation only began its portfolio in September 2014, so we are talking not even 12 months. Still, 3% outperformance against the ALL ORDINARIES (INDEXASX: XAO) (ASX: XAO), including dividends is welcomed.
Future Generation is a unique investment company. 16 of Australia's most prominent fund managers manage investors capital in their flagship funds without charge or performance fees. The company was founded by well-known fund manager Geoff Wilson – of WAM Capital Limited (ASX: WAM).
Additionally, Future Generation will generate 1% of its net tangible assets to Australian charities each financial year. This year the company has donated $1.64 million to charities focused on changing the lives of Australia's most vulnerable children. Shareholders will be asked to select from a number of nominated charities.
Future Generation is also offering existing shareholders a priority allocation to $110 million of units in a new global listed company, the Future Generation Global Investment Company (FGG). FGG will follow the same strategy as the Future Generation Investment Co and donate a percentage of assets to charities each year.
Both funds charge 0.0% management fees and 0.0% performance fees.
It's a worthwhile cause and if the market outperformance continues, investors might want to consider jumping on board.
