Costello to manage conflict, hearing told

The head of Australia's Future Fund expects chair Peter Costello to manage any conflicts of interest with his role on other major boards.

Former treasurer Peter Costello will manage any potential conflicts of interest as chair of the Future Fund and chair of the newly-merged Nine and Fairfax, a Senate committee has heard.

Mr Costello was reappointed last year as chairman of the board of guardians of Australia's Future Fund, which manages $147 billion and has returned 9.7 per cent a year for 10 years.

"I think that the board is very well aware of any potential or perceived conflicts that can arise... It's something I think is well managed," chief executive David Neal told a Senate committee on Tuesday.