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Australia's only education-purposed mutual. Regulated by APRA and ASIC, investing for education and intergenerational wealth for over 50 years.
$4.14B
Paid in benefits
45,000
Members helped
A$1.3B
Funds under management
Since 1974
Member-owned mutual
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
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.
Education is a transformative force for good, with the power to create a more equitable society and a more innovative, prosperous world.
Everyone has the education and lifelong learning opportunities needed to fulfil their aspirations.
No shareholders. Every decision is made in the interest of Members, and profits are reinvested for the benefit of the families we serve.
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
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.
The Board guiding Australia's only education-purposed mutual
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
B Met, M Mgt, PhD Mgt, GAICD
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
B Com (Acc, Eco, Comm Law) FAICD, FCPA
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
B Eco & B Mktg, Senior Fellow of Finsia , GAICD, AIST
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
EMPA (ANZSOG), DipEd, BA (UNE)
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
BBA LLB GAICD SSA GradDipLP DipFP
Non-Executive Director
Current roles
Member of People & Culture Committee
Member of Audit Committee
PhD (Business Administration), GAICD, BElecEng (Hons I), BIT (Hons I), GradDipAcc
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
FAICD, FCA, BBus(Acng)
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.
Non-executive directors with expertise spanning finance, law, education, governance and risk management.
Board composition and governance practices are detailed in Futurity's Annual Report, published each year.
With no external shareholders, every governance decision is made in the interest of Futurity's Members.
Recognition
Futurity's Education Bond and Investment Bond are assessed by independent research houses used by Financial Advisers across Australia.
Chant West
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
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.
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.
$1M philanthropic partnership gives education research significant boost.
The National Excellence in Teaching Awards, founded by Futurity, recognise outstanding teachers nominated by parents and school communities across Australia.
Supporting disadvantaged Australian children to stay in and succeed at school through education support programs.
Supporting Indigenous Australian children from regional and remote communities to access boarding school education.
Annual research with Resolve Strategic — the most widely cited education cost data in Australian media.
OUR FOUNDATION
To learn more about its work, or to make a donation, visit The Futurity Education Foundation website.
COMMON QUESTION
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.
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.
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.
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.
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.
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.
Level 15, 333 Collins Street, Melbourne VIC 3000 Phone: 1300 345 456
Futurity Investment Group Limited ACN 087 648 879 · AFSL 236665
Registered Friendly Society under the Life Insurance Act 1995 (Cth). Dual-regulated by APRA and ASIC. Dispute resolution through AFCA.
PDS and TMDs available at futurityinvest.com.au. Annual Report published annually. Financial Services Guide available on request.