In 1996, The Colonial Mutual Life Assurance Society Limited, after 123 years as a mutual life insurance society, demutualised and, in 1997, was listed on the Australian Stock Exchange as Colonial Limited (the Company). In September 1996, The Colonial Foundation Trust (the Trust) was created as part of the demutualisation in order to reflect in some way Colonial Limited's origin as a mutual society formed to provide a service to its members and the communities it served. The Company was formed to act as a trustee of the Trust (ABN 42 062 119 572).
Following the merger of Colonial Limited with the Commonwealth Bank of Australia in June 2000, Colonial Foundation Limited became fully independent, with the responsibility of carrying out the broadly defined charitable objectives of Colonial Foundation Trust.
The Foundation is endorsed by the Australian Taxation Office (ATO) as a Charitable Trust and registered with the Australian Charities and Not-for-profit Commission (ACNC).
Directors of the Company Special Role Date of AppointmentMr Peter Smedley Chairman September 1996
Investment Committee Member
Mr Alan E Beanland Investment Committee Member October 2010
Mr Colin Galbraith AM March 2013
Mr Robert Garnsworthy Investment Committee Member February 2015
Mrs Jane M Harvey July 2007
Prof Robert R Officer AM Investment Committee Member February 1997
Company Secretary and Chief Executive Officer of the Trust: Mr Andre Carstens (appointed July 2017)
Mission and Purpose
Colonial Foundation Trust aims to make a positive contribution to society by partnering with leading charitable organisations to support them in developing innovative solutions that address contemporary Australian societal issues around poverty and disadvantage.