Australia’s sovereign wealth fund, the Future Fund, said on Aug 26 that chief executive officer Raphael Arndt will step down at the end of 2026 after a six-year tenure to return to the private sector.
Chairman Greg Combet did not name a successor to the A$356 billion (S$324 billion) fund in the statement.
Arndt is the longest-serving CEO in the 20-year history of the fund, and was its chief investment officer for six years before taking the top role.
“I leave the Future Fund with a highly capable leadership team that is supported by a strong board,” Arndt said.
The fund delivered a 14.8 per cent return in the year ended June 30, above the government-mandated target of 8.0 per cent and the 12.2 per cent in 2025, according to its latest portfolio update released on Aug 26.
Its assets climbed to A$356 billion at the end of June from A$337.2 billion three months earlier.
Investments in Australian equities rose to A$30.4 billion from A$28.7 billion. REUTERS
