‘Future Fund Divest from Genocide’ is one of the key demands and targets of the Elbit Out Of Victoria campaign focused on building power to resist the investment of public wealth in the global arms trade and increasing militarisation of our communities. Future Fund is the Australian state’s ‘sovereign’ wealth fund, which invests in weapons companies that arm Israel including Elbit Systems.

Photo credit: Matt Hrkac

TAKE ACTION TODAY!

Send an email to the Future Fund using our TEMPLATE (feel free to personalise)
Email: contact@futurefund.gov.au
Call the Future Fund on +61 3 8656 6400
PHONE SCRIPT (Quick Version)
“Hello, my name is [Your Name]. I’m calling as an taxpayer to demand that the Future Fund divest from Elbit Systems and other weapons companies. Our public money should not be used to fund genocide in Palestine. The Future Fund has divested before — from tobacco and other companies linked to human rights abuses. It must do the same now and cut ties with Elbit Systems. Listen to the community and divest from death.”
KEY FACTS FOR CALLERS (if you want to expand)
- Elbit Systems is Israel’s largest private arms company, supplying 85% of Israel’s armed drones used to kill thousand of people in Gaza (and around the world).
- The Future Fund’s holdings in Elbit have skyrocketed by nearly 450% since Israel’s genocide in Gaza (Oct 2023).
- Elbit drones, bombs, and surveillance systems are used in Gaza and across the West Bank — and marketed globally as “field-tested” on Palestinians.
- The Future Fund manages $300 billion of public money; billions are invested in weapons companies like Lockheed Martin ($88M), RTX/Raytheon ($114M), and BAE Systems ($50M) — all complicit in arming Israel.
- There is precedent: the Fund divested from tobacco (2013) and companies linked to human rights abuses (2024). Elbit must be next.

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Future Fund was established by settler-colonial Australia through the Howard Government in 2006. As the nation-state’s single-largest financial asset, it currently manages $300 billion on behalf of the Federal Government. Its mandate is to generate long-term financial returns by investing in various ‘assets’, including international corporations.
Future Fund effectively channels public wealth (including your taxes) into global capital markets, with little transparency and accountability regarding its investment choices.
The Australian state’s ‘sovereign’ wealth fund - Future Fund - invests in weapons companies arming Israel to murder tens of thousands of people in Gaza and the West Bank.
Elbit Systems - Israel’s largest privately-owned arms company - is the fastest-growing company on the list of companies Future Fund invests in.
As per the fund’s 6-monthly Periodic Investment Reports, since the Israeli state’s most recent escalation of genocide in Palestine in October 2023, the total value of Future Fund shareholdings in Elbit System has increased disproportionately:
- $488,768 (as at 10/10/23)
- $1,330,675 (as at 30/06/24)
- $2,687,712 (as at 31/12/24)
These disproportionate increases equate to:
- 449.90% increase in less than 15-months
- 172.25% increase in less than 9-months
- 101.98% increase in 6-months
These figures show the Federal Government’s ‘sovereign’ wealth fund uses taxpayer money to invest in the profits of genocide. Elbit Systems’ exponential growth in share price value since October 2023 is tied to the profits it has made from supplying up to 85% of the Israeli Defence Forces (IDF) land-based equipment and 85% of its drones. This equipment is used by the IDF in its genocidal military offensive in Gaza.
On Thursday 26 June 2025, Elbit Out of Victoria launched the ‘Future Fund Divest from Genocide’ campaign at an after-work rally outside Future Fund Head Office in Naarm/Melbourne CBD (447 Collins Street).
Community groups, First Nations organisers, workers, students, and anti-militarist organisers gathered outside the Future Fund headquarters demanding total divestment from Elbit Systems, the weapons manufacturer arming Israel’s genocide in Gaza.
The rally was called as part of the campaign’s End of Financial Year Week of Action (23-27 June 2025), which aimed to expose, challenge, and draw public attention to the economic ties between settler-colonial Australia and Israel’s genocide of the people in Gaza and beyond, including here on this continent.
Speakers from First Nations, anti-genocide, pro-Palestine, anti-militarist, and justice-aligned groups drew attention to Future Fund’s investment of public money into corporations that profit from the mass murder and surveillance of Palestinians. Thousands of concerned members of the community who attended the rally were outraged to learn Elbit Systems is the fastest-growing company on the list of companies the Future Fund invests public money in.
In June 2025 members of the Elbit Out of Victoria campaign compiled a Public Analysis Report titled: Elbit out of the Future Fund: Australia’s Investment in Genocide in Gaza
The report examines the Future Fund’s increasing investment in Elbit Systems, Israel’s largest weapons manufacturer, and the Fund’s complicity in ongoing war crimes and violations of international law.
You can find the report on our Reports + Publications page.
Following the launch of the ‘Future Fund Divest from Genocide’ campaign, the Future Fund introduced a new Responsible Investment Policy. The policy document outlines that the Future Fund Board of Guardians have recently “expanded” their investment beliefs to include: “integrating environment, social and governance considerations, including climate change, as a Responsible Investor enhances long-term returns and our reputation” (Future Fund, 2025, p. 2).
We recognise Future Fund’s reactionary introduction of the Fund’s Responsible Investment Policy as a direct response to our campaign’s demands and mounting community pressure.
Our campaign launch has successfully drawn attention to Future Fund’s longstanding investment of public wealth in companies supplying genocide and the sheer absence of accountability the Commonwealth-owned ‘sovereign wealth fund’ is currently subjected to.
However, whilst the Future Fund symbolically gestured toward a commitment to responsible investment in their new policy announcement, our campaign has yet to identify any material divestment from companies producing and supplying the weapons, technology, materials, and resources that are fuelling Israel’s genocide of Palestinian people.
To date (September 2025), the Future Fund has yet to release the most current six-monthly periodic investment report (1 January 2025 - 30 June 2025). In the absence of a timely publication of the Fund’s periodic investment portfolio, it can only be assumed that the Future Fund continues to hold shareholdings in Elbit Systems and other weapons companies supplying genocide.
It is incumbent on the Future Fund’s Board of Guardians to materially implement its recently introduced Responsible Investment Policy. As stated in the policy: “the Board retains the option to exclude investments in cases of particularly severe or sustained misconduct, especially where the investee company is unwilling or unable to change its practices” (Future Fund, 2025, p. 6).
Until the Board materially divests from Elbit Sytems and other weapons companies supplying genocide, statements such as these are nothing more than an attempt to save the Fund’s public image and are void of the necessary accountability and material change outlined in the ‘Future Fund Divest from Genocide’ campaign demands.
Until our demands are explicitly met, the ‘Future Fund Divest from Genocide’ campaign will continue to escalate, raise community awareness, and subject the Future Fund to further accountability measures.
Please see above to learn more about how you can TAKE ACTION TODAY