Future Generation Australia (FGX) Trading update summary

Portfolio performance and financial update

• Net tangible assets per share before tax rose to 140.72c in April 2026, up from 136.05c in March.

• Investment portfolio increased 3.5% in April, outperforming the S&P/ASX All Ordinaries Accumulation Index by 1.1%.

• Twelve-month portfolio return reached 11.3%, 1.3% above the benchmark index.

• Since inception, annualized return is 9.0%, with lower volatility (11.6%) than the index (13.7%).

• Fully franked final dividend of 3.6c per share paid in May 2026; total dividends since inception now 86.7c per share including franking credits.

Portfolio structure and diversification

• Portfolio consists of 16 actively managed funds and over 430 underlying securities.

• Large overweight to small and mid-cap companies, with 19.1% exposure outside the S&P/ASX 300.

• Lower concentration risk compared to the index, with less exposure to top 10 holdings.

• Active management reflected in a 5.0% tracking error and 56.3% active share.

• Portfolio managers focus on resilient, high-growth companies aligned with long-term trends.

Social impact and fee structure

• Operates a fund-of-funds model with pro bono fund managers, waiving all management and performance fees.

• 1% of average monthly net assets donated to social impact partners supporting vulnerable youth.

• $93.2 million saved on fees and $49.0 million donated to social causes since inception.

• Partners with 11 not-for-profits and multiple pro bono service providers.