Australia’s sovereign wealth fund CEO Raphael Arndt steps down
Chair Greg Combet did not name a successor.
Australia's sovereign wealth fund, the Future Fund, announced on August 26 that its chief executive officer, Raphael Arndt, will resign at the end of 2026 following a six-year tenure to return to the private sector. Chair Greg Combet did not disclose the identity of the successor during the statement. Arndt holds the title of the longest-serving CEO in the fund's 20-year history and previously served as its chief investment officer for six years before assuming the top role.
He expressed confidence in his upcoming leadership team, stating that they are well-supported by a robust board. The Future Fund achieved a 14.8% return in the year ending June 30, surpassing the government's mandated target of 8.0% and the 12.2% in 2025, according to the latest portfolio update released on the same day. The fund's assets grew to A$356 billion by the end of June from A$337.2 billion three months prior. Investments in Australian equities expanded to A$30.4 billion from A$28.7 billion.
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