Investment of the MRFF’s capital base is managed by the Future Fund. The Future Fund tailors the management of the MRFF to its unique investment mandate. The guardians of the Future Fund have no role in determining the projects and programs that are supported by the MRFF or in allocating funding to specific areas.
The Australian Medical Research Advisory Board offers advice to the government about MRFF research priorities and funding in accordance with the Medical Research Future Fund Act 2015.
Both bodies operate independently from government.
The Australian Medical Research Advisory Board (Advisory Board)
The Advisory Board is appointed by government and chaired by Professor Ian Frazer AC with seven other members including the head of the National Health and Medical Research Council. Members are appointed for their experience or knowledge in the following fields:
- medical research
- policy relating to health systems
- management or delivery of health services
- medical innovation
- financing and investment
- consumer issues relating to health.
The Advisory Board’s duties are to:
- determine the Australian Medical Research and Innovation Strategy and related Priorities (following consultation with the sector and consumers)
- inform government decision making on Medical Research Future Fund disbursements.