Key Takeaways
- • Future Fund CEO Raphael Arndt will step down at the end of 2026 after a six-year tenure to return to the private sector, according to Reuters.
- • Arndt is the longest-serving CEO in the fund's 20-year history and previously served as its chief investment officer for six years before taking the top role.
- • The Future Fund reported a 14.8% return for the year ended June 30, above its government-mandated target of 8.0% and up from 12.2% the prior year.
- • Fund assets climbed to A$356 billion at end-June from A$337.2 billion three months earlier, while Australian equities holdings rose to A$30.4 billion from A$28.7 billion.
Summary
Australia's sovereign wealth fund, the Future Fund, said on Wednesday that Chief Executive Officer Raphael Arndt will step down at the end of the year after a six-year tenure to return to the private sector, according to Reuters. Arndt is the longest-serving CEO in the fund's 20-year history. He previously served as the fund's chief investment officer for six years before assuming the top role.
In his statement, Arndt said: "I leave the Future Fund with a highly capable leadership team that is supported by a strong board."
The announcement coincided with the release of the fund's latest portfolio update. According to that update, the Future Fund delivered a 14.8% return in the year ended June 30, comfortably above the government-mandated target of 8.0% and exceeding the 12.2% return posted the previous year. Assets under management rose to A$356 billion at the end of June, up from A$337.2 billion three months earlier. Investments in Australian equities increased to A$30.4 billion from A$28.7 billion over the same period.
The report did not address a successor or the timing of a search process. Reuters noted an exchange rate of $1 = 1.3961 Australian dollars in its coverage.
In his statement, Arndt said: "I leave the Future Fund with a highly capable leadership team that is supported by a strong board."
The announcement coincided with the release of the fund's latest portfolio update. According to that update, the Future Fund delivered a 14.8% return in the year ended June 30, comfortably above the government-mandated target of 8.0% and exceeding the 12.2% return posted the previous year. Assets under management rose to A$356 billion at the end of June, up from A$337.2 billion three months earlier. Investments in Australian equities increased to A$30.4 billion from A$28.7 billion over the same period.
The report did not address a successor or the timing of a search process. Reuters noted an exchange rate of $1 = 1.3961 Australian dollars in its coverage.
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