Future Fund chief executive Raphael Arndt has denied that his departure from the $356 billion sovereign wealth fund is linked to lingering cultural concerns about the institution, as he prepares to sign off on a six-year tenure during which its assets swelled by more than $150 billion.
The announcement that Arndt would leave at the end of this year for a job in the private sector came after a stellar 12 months for the Future Fund – its investments returned 14.8 per cent, and it added $37.4 billion to its value. In comparison, the average gain among balanced super funds was 9.5 per cent.
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