Future Fund has appointed a new permanent CIO.
The Future Fund has appointed Ben Samild as Chief Investment Officer (CIO), taking over from Raphael Arndt, Chief Executive Officer of the fund, who had been acting CIO after the departure of Sue Brake in June last year.
Samild was previously Deputy CIO of Portfolio Construction for the fund and will now be overseeing more than $250 billion in investments and a 90 person investment team.
“Ben brings a strong understanding of the Future Fund as a long-term investor,” Peter Costello, Chair of the Future Fund Board of Guardians, said. “He has played an important role in supporting the Board’s focus on generating returns while managing risk and I am pleased that he will now step up to lead the investment program.”
“Globally, inflation remains higher than is desirable and interest rates have continued to rise, while fiscal policy remains accommodative and productivity growth is low. This creates a challenging environment for investors and in his new role Ben will work closely with the Board to navigate this environment,” Costello said.
Samild joined the Future Fund in 2013 as a Director of Debt and Alternatives, having spent four years as Head of Investment Strategy for LUCRF Super.
In 2018, he was appointed Head of Alternatives, helping to oversee a significant expansion of the Future Fund’s allocation to this asset class.
Hugh Murray, Head of Overlays, will take over Samild’s responsibilities as Deputy CIO for Portfolio Construction in an acting capacity. Alicia Gregory remains Deputy CIO for Private Markets.
“Alicia and Hugh have both been long term leaders and excellent contributors to the Future Fund and will provide Ben with just the support he needs to take the investment program forward,” Arndt said.
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