Future Fund Returns 14.8% as CEO Raphael Arndt Announces Exit

Shivangi

Aug 26, 2026 3:43 PM IST

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Synopsis

The Future Fund delivered a 14.8% return in the year to June 2026, while CEO Raphael Arndt announced he will step down after six years in the role.

Key Highlights

• Future Fund delivered a 14.8% return over the 12 months. 
• The CEO Raphael Arndt will step down after six years.
• The Fund has averaged a 9% annual return over the past decade. 

Future Fund Reports Strong Return

Future Fund was up 14.8% for the year to June 30, 2026. The government-sponsored fund has provided 9% average annual returns over the past decade, well ahead of its target of 7.1%. The fund has $356 billion in assets under management as of late June.

Raphael Arndt to Step Down

Six years on, Future Fund CEO Raphael Arndt is departing the role. The board said he will continue in the role until year-end while it seeks a replacement for him. Arndt said he thinks the time is right to turn the page in his career after leading the fund through two strategic plans and a number of years producing strong investment returns.

Global Investments Support Returns

Global developed market shares represented the fund’s largest allocation at 29.1%, followed by alternative investments at 14.9% and private equity at 12.1%. Australian shares made up 10.5%.

Strong performance in Japan and emerging markets also helped boost the fund’s results. Future Fund chair Greg Combet said the return was among the strongest in the fund’s history, despite ongoing global uncertainty and market volatility.

Arndt attributed some of the gains to investments in commodities, greater geographic diversification, active management and reduced exposure to bonds. The Future Fund grew by more than $37 billion over the year.

Source: Capital Brief