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  • Education Bond

    Education Bond

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About Futurity Investment Group Limited

Member-owned. Since 1974.

Australia's only education-purposed mutual. Regulated by APRA and ASIC, investing for education and intergenerational wealth for over 50 years.

Explore the Futurity Education Bond Explore the Futurity Investment Bond

$4.14B

Paid in benefits

45,000

Members helped

A$1.3B

Funds under management

Since 1974

Member-owned mutual

  • ^Chant West Recommended
  • APRA + ASIC regulated
  • *Lonsec Recommended
  • ^Chant West Recommended
  • APRA + ASIC regulated
  • *Lonsec Recommended
  • ^Chant West Recommended
  • APRA + ASIC regulated
  • *Lonsec Recommended
  • ^Chant West Recommended
  • APRA + ASIC regulated
  • *Lonsec Recommended

Lonsec 'Recommended' rating as at April 2026. Lonsec ratings are general advice only; consider whether the product is suitable for you and read the PDS.

WHO WE ARE

About Futurity Investment Group Limited

Futurity Investment Group Limited (ABN 21 087 648 879, AFSL 236665) is a Friendly Society registered under the Life Insurance Act 1995 (Cth), regulated by both APRA and ASIC. Headquartered at Level 15, 333 Collins Street, Melbourne, Futurity is Australia's only education-purposed mutual organisation.



Established in 1974, Futurity has been helping Members save and invest for education and intergenerational wealth for more than 50 years. As a mutual, Futurity has no shareholders. Every decision is made in the interest of Members.



Futurity issues a tax-effective Education Bond and Investment Bond, managing A$1.3B in funds. The organisation has paid $4.14B in benefits to Members since inception.

Our story

Founded in 1974 by Gary Bickerton and Harry Tyler to make education accessible to every Australian family, regardless of income.
The first Members were a gardener and his wife, who invested $54 for their children's future.

  • 1974 Founded on 8 August by Gary Bickerton and Harry Tyler in Melbourne.
  • 1987 Registered as a Friendly Society, establishing its mutual structure.
  • 1990s National expansion. Membership grows to over 100,000 families across Australia.
  • 1994 National Excellence in Teaching Awards (NEiTA) launched.
  • 2013 First annual Cost of Education Index published.
  • 2019 Rebrand from ASG to Futurity Investment Group.
  • 2020 Launch of the Family Education Bond.
  • 2021 Futurity Education Foundation established.
  • 2024 50+ years of continuous operation.
  • 2026 Futurity Investment Bond established.
What drives us

Mission, vision and values

Our belief

Our belief

Education is a transformative force for good, with the power to create a more equitable society and a more innovative, prosperous world.

Our vision

Our vision

Everyone has the education and lifelong learning opportunities needed to fulfil their aspirations.

Mutual structure

Mutual structure

No shareholders. Every decision is made in the interest of Members, and profits are reinvested for the benefit of the families we serve.

Education at the core

Education at the core

Our impact focus is centred on education - delivered through the National Excellence in Teaching Awards (NEiTA) and the Futurity Education Foundation, our philanthropic arm.

OUR FOUNDATION

Giving back through education

The Futurity Education Foundation is our philanthropic arm, supporting programs that make education more accessible for Australian families. To learn more about its work, or to make a donation, visit the Foundation website.

Visit the Foundation
OUR PEOPLE

Our Board

The Board guiding Australia's only education-purposed mutual

Dr Jacqueline Jennings

Dr Jacqueline Jennings

Chair

Read full bio
Claire Higgins

Claire Higgins

Deputy Chair

Read full bio
Nicholas Vamvakas

Nicholas Vamvakas

Non-Executive Director

Read full bio
Catherine O'Sullivan

Catherine O'Sullivan

Non-Executive Director

Read full bio
Andrew Zbik

Andrew Zbik

Non-Executive Director

Read full bio
James Chin Moody

James Chin Moody

Non-Executive Director

Read full bio
Jenny Dawson

Jenny Dawson

Non-Executive Director

Read full bio
Dr Jacqueline Jennings

Dr Jacqueline Jennings

Chair

Jacqui has extensive senior executive experience in sales, marketing, business development and strategy, and financial management.



Jacqui is the Chair of the Port Arthur Historic Site Management Authority, a non-executive Director of Darwin Waterfront Corporation, the Interim Chair of Campaspe Port Enterprise and a non-executive Director of Latrobe Health Services.



Appointment date

Jacqueline joined us as a Participating Consultant in 2011 and was appointed Non-Executive Director in 2012. She was appointed as the Deputy Chair of the Board in 2023 and Chair in September 2025.



Current Roles

Member of Futurity’s Investment Committee

Member of People and Culture Committee

Chair of Futurity Education Foundation

Qualifications

B Met, M Mgt, PhD Mgt, GAICD

Claire Higgins

Claire Higgins

Deputy Chair

Claire Higgins has been a professional director since 2000, following a long career with BHP and OneSteel.



She has a Bachelor of Commerce from UoM, and is a Fellow Certified Practising Accountant and a Fellow member of the AICD.



Claire’s previous directorships span the health and aged care sectors, construction, water management, and emergency management.



In January 2026 Claire commenced as the first female and 7th Chancellor of Deakin University. She is also Chair of the Board of GMHBA Limited and former Chair of the Board of REI Superannuation Pty Ltd. Claire is also a director of Futurity Investment Group and private company Margin Clear.



Appointment Date

Claire joined Futurity as a Non-Executive Director in October 2024 and was appointed as Deputy Chair in September 2025.



Current Roles

Chair of Risk and Compliance Committee

Qualifications

B Com (Acc, Eco, Comm Law) FAICD, FCPA

Nicholas Vamvakas

Nicholas Vamvakas

Non-Executive Director

Nicholas has spent over 40 years in financial markets in investments, banking, and superannuation. He is currently the Chair of SuperFriend, an industry fund mental health initiative, Director and Chair of the Finance and Administration Committee at CAF (Cleaning Accountability Framework), and former Director and Chair of the Finance, Risk and Audit Committee at Football Victoria.

As Group Executive Strategy and Growth for Cbus, Nicholas was responsible for developing the corporate plan for the fund with a particular emphasis on medium- and long-term organic and inorganic growth. During his tenure, the fund successfully negotiated its first merger in the MySuper era with Media Super and EISS Super and was successful in winning several high profile corporate superannuation mandates.

As Chief Executive Officer of Equipsuper, Nicholas led the fund through one of its most exciting growth periods. Its merger with the former Rio Tinto staff fund evolved Equip into a $15 billion fund with over 75,000 members Australia-wide. Prior to departing Equip a merger with Catholic Super was negotiated which grew the fund to $25 billion and 150,000 members.

Prior to joining Equip as Chief Risk Officer, he was part of the original ME Bank leadership team that established the Bank and grew the business from $1 billion to over $20 billion in assets. His earlier career included senior roles with National Mutual / AXA and Challenge Bank.

Appointment Date

Nicholas joined Futurity as a Board Advisor in October 2024.

Current Roles

Chair of the Investment Committee

Member of Audit Committee

Qualifications

B Eco & B Mktg, Senior Fellow of Finsia , GAICD, AIST

Catherine O'Sullivan

Catherine O'Sullivan

Non-Executive Director

Catherine is an impact focused, entrepreneurial Chief Executive Officer and Board Director who leads with curiosity and a strategic mindset.

The former high school teacher and principal has held senior governance and leadership roles within education and government, and led complex education and employment policy, performance and transformation agendas at RMIT University, and Bond University.

Catherine, a Churchill Fellowship recipient has been recognised for leading strategy and innovation in highly regulated environments, establishing profitable multimodal education and training portfolios across Asia Pacific and building connected communities, influential global networks and impactful partnerships.

Appointment date

Catherine joined Futurity as a Board Advisor in 2021. She was appointed a Non-Executive Director in 2024.

Current Roles

Chair of People and Culture Committee

Member of the Futurity Education Foundation Board

Qualifications

EMPA (ANZSOG), DipEd, BA (UNE)

Andrew Zbik

Andrew Zbik

Non-Executive Director

Andrew brings 19 years of experience in financial planning, investment strategy and governance. He is the owner-director of a financial planning business and responsible manager of an Australian Financial Services Licensee, with strong expertise in wealth management and regulatory compliance.

He currently serves as a Non-Executive Director of StateCover Mutual Limited, where he chairs the Investment Committee and is a member of the Technology Committee. A former Mayor of Lane Cove, Andrew served on council for seven years, contributing to community and infrastructure development.

Andrew’s governance, financial and strategic expertise supports Futurity’s commitment to delivering sustainable value for Members and advancing our purpose-driven mission in education and financial wellbeing.

Appointment Date

Andrew was appointed as a Non-Executive Director in October 2025.

Current Role

Member of Risk and Compliance Committee

Member of Investment Committee

Qualifications

BBA LLB GAICD SSA GradDipLP DipFP

James Chin Moody

James Chin Moody

Non-Executive Director

James is an experienced company director, entrepreneur and innovation leader with more than 25 years' experience spanning business, government and research. He is the founder of investment firm 5H Values Capital and previously co-founded Sendle which he grew into a multinational business operating across Australia, the United States and Canada. Before this he served as the Executive Director, Development of the Australian national research agency, CSIRO.
James has extensive board and governance experience across corporate, government and not-for-profit sectors, including the Australian Bureau of Meteorology, the Australian Museum, UNESCO and the Australian Bureau of Statistics. He brings deep expertise in strategic growth, innovation, technology and organisational transformation.

Appointment date
30 October 2026

Current roles

Member of People & Culture Committee

Member of Audit Committee

Qualifications

PhD (Business Administration), GAICD, BElecEng (Hons I), BIT (Hons I), GradDipAcc

Jenny Dawson

Jenny Dawson

Non-Executive Director

Jenny has been a professional company director for more than 25 years, with extensive experience across the financial services and infrastructure sectors. Following a career with chartered accounting firm Arthur Andersen, she served 15 years on the Board of Bendigo and Adelaide Bank, where she also Chaired its wealth management and superannuation subsidiary, Sandhurst Trustees Ltd.

Her board experience spans the insurance, water, transport and faith-based sectors, and she has contributed to regional development initiatives and education policy through her involvement on the Victorian Government’s Expert Panel responding to the Bradley Review into higher education.

Jenny’s governance, risk and financial expertise supports Futurity’s commitment to strong member-owned stewardship and our purpose of enabling better educational outcomes for future generations.

Appointment Date

Jenny was appointed as a Non-Executive Director in October 2025.



Current Roles

Chair of Audit Committee

Member of Risk and Compliance Committee

Qualifications

FAICD, FCA, BBus(Acng)

GOVERNANCE

Governance and Disclosures

Futurity Investment Group is an Australian-based financial services company operating in accordance with the laws and regulations applicable to the Australian financial services industry.

Independent Board

Independent Board

Non-executive directors with expertise spanning finance, law, education, governance and risk management.

Accountable and transparent

Accountable and transparent

Board composition and governance practices are detailed in Futurity's Annual Report, published each year.

Member-first mandate

Member-first mandate

With no external shareholders, every governance decision is made in the interest of Futurity's Members.

GOVERNANCE

Futurity Corporate Governance Rules

Download

FY26 Disclosures CPS 511

Download

Modern Slavery Statement

Download

Whistleblower Policy

Download

Recognition

Futurity's Education Bond and Investment Bond are assessed by independent research houses used by Financial Advisers across Australia.

Chant West

'Recommended' rating, October 2026

Chant West "Recommended" rating (assigned October 2026) is limited to "weights" only and based on data available at the time. It is not a financial product recommendation and is subject to change. Full details at zenithpartners.com.au.

Lonsec Research

'Recommended' rating, April 2026.

The Lonsec "Recommended" rating (assigned April 2026) is a general-advice-only assessment. Lonsec receives a fee from the fund manager for rating the product. Ratings are subject to change without notice. Full terms at lonsec.com.au.

IN THE MEDIA

Research the national media cites

Futurity's Cost of Education Index, published annually in partnership with Resolve Strategic, is cited by major Australian media, reaching more than 13 million Australians each year.

MORNINGSTAR

Future Focus: What are you giving up by sending your kids to private school?

FINDER

The cost of raising children in Australia

7 NEWS

Sydney isn't Australia's most expensive city to send your child to school

9 NEWS

Public school education costs: Melbourne vs Sydney national report

Community

Investing in education beyond the Bond

Victoria University

Victoria University

$1M philanthropic partnership gives education research significant boost.

NEiTA Foundation

NEiTA Foundation

The National Excellence in Teaching Awards, founded by Futurity, recognise outstanding teachers nominated by parents and school communities across Australia.

The Smith Family

The Smith Family

Supporting disadvantaged Australian children to stay in and succeed at school through education support programs.

Yalari

Yalari

Supporting Indigenous Australian children from regional and remote communities to access boarding school education.

Cost of Education Index

Cost of Education Index

Annual research with Resolve Strategic — the most widely cited education cost data in Australian media.

OUR FOUNDATION

Giving back through education

To learn more about its work, or to make a donation, visit The Futurity Education Foundation website.

Visit the Foundation

COMMON QUESTION

Frequently asked questions about Futurity Investment Group

What is Futurity Investment Group?

Futurity Investment Group Limited (ABN 21 087 648 879, AFSL 236665) is a Friendly Society registered under the Life Insurance Act 1995 (Cth), regulated by APRA and ASIC. It is Australia's only education-purposed mutual organisation, issuing tax-effective Education Bonds and Investment Bonds since 1974. Formerly the Australian Scholarships Group (ASG), Futurity manages A$1.3B in funds and has paid $4.14B in education benefits since 1974.

Is Futurity the same as ASG?

Yes. The Australian Scholarships Group (ASG) rebranded to Futurity Investment Group in November 2019. The entity, ABN, regulatory status and AFSL are unchanged. ASG Members are Futurity Members. Today's product suite is different from the former ASG scholarship plans - each Bond is held by the Bond Owner, who retains full control at all times.

Who regulates Futurity Investment Group?

Futurity is dual-regulated. APRA (Australian Prudential Regulation Authority) regulates Futurity as a Friendly Society under the Life Insurance Act 1995. ASIC regulates Futurity's financial products and services under its AFSL.

What does it mean that Futurity is a mutual?

As a mutual organisation, Futurity has no external shareholders. It is owned by its Members. All surplus is retained for the benefit of Members rather than distributed to shareholders. The Board and management make decisions in the interest of Members, not equity investors.

How long has Futurity been operating?

Futurity was established on 8 August 1974 as the Australian Scholarships Group (ASG) by Gary Bickerton and Harry Tyler in Melbourne. It has operated continuously for over 50 years, managing more than A$1.3B in funds and paying $4.14B in benefits.

What products does Futurity offer?

Futurity offers two core products: the Futurity Education Bond (including the Family Education Bond with up to 10 beneficiaries) and the Futurity Investment Bond. Both are tax-effective investment structures issued under the Life Insurance Act 1995, with 75 curated Investment Options across managers including Vanguard, BlackRock, PIMCO, MFS, Perpetual, Pendal, Dimensional and First Sentier.

Contact

Head office and governance

Head office

Head office

Level 15, 333 Collins Street, Melbourne VIC 3000
Phone: 1300 345 456

Legal entity

Legal entity

Futurity Investment Group Limited
ACN 087 648 879 · AFSL 236665

Regulatory framework

Regulatory framework

Registered Friendly Society under the Life Insurance Act 1995 (Cth). Dual-regulated by APRA and ASIC. Dispute resolution through AFCA.

Governance documents

Governance documents

PDS and TMDs available at futurityinvest.com.au. Annual Report published annually. Financial Services Guide available on request.

*The report that included the rating was published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec) on 23/04/2026. Lonsec receives a fee from fund managers for the preparation of reports. The report / rating is general advice only. An investor should be aware that: a) the advice has been prepared without taking into account an investors’ objectives, financial situation or needs; b) an investor should consider the appropriateness of the advice having regard to their own objectives, financial situation or needs before acting on the advice; and c) an investor should obtain a PDS relating to the product, consider the PDS and seek independent financial advice before making any decision about whether to acquire the product. The rating is not a recommendation to purchase, sell or hold any product. Past performance is not a reliable indicator of future Performance. Ratings are prepared based on information available at the time of preparation and may be subject to change by Lonsec without notice. Visit lonsec.com.au for important documents (FSG, Conflicts Statement). © 2026 Lonsec. All rights reserved.
^The Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West Investment Bond rating (assigned 12/2025) is limited to General Advice only and has been prepared without considering your objectives or financial situation, including target markets where applicable. The rating is not a recommendation to purchase, sell or hold any product and is subject to change at any time without notice. You should seek independent advice and consider the PDS or offer document before making any investment decisions. Ratings have been assigned based on third party data. Liability is not accepted, whether direct or indirect, from use of the rating. Past performance is not an indication of future performance. Refer to www.chantwest.com.au for full ratings information and our FSG.

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Education Bond
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Investment Bond
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1300 345 456

Copyright © 2026 Futurity Investment Group Ltd ACN 087648879 — All Rights Reserved

Futurity

The information on this website contains general advice only and does not take into account your or your client's objectives, financial situation or needs. Before you act on any advice on this website, please consider whether it is appropriate to your personal circumstances. You should also read the relevant Product Disclosure Statement and Target Market Determination before making any investment decision and download the relevant Application Form which are both available on our website, or you can obtain a copy by calling us on 1300 345 456. Futurity is not authorised to provide tax advice. You should seek independent tax advice regarding your personal circumstances.

Product issuer is Futurity Investment Group Limited, ACN 087648879, AFSL 236665