Costello to manage conflict, hearing told

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.