Australia’s Future Fund Names Ben Samild as New CIO

The sovereign wealth fund promotes a long-tenured investment veteran who had been deputy CIO since 2021.

Ben Samild has been promoted to CIO of Future Fund, Australia’s sovereign wealth fund. He assumes CIO responsibilities from Future Fund CEO Raphael Arndt, who has acted in the role since June 2022.

Ben Samild

Samild is a 10-year veteran of the Future Fund and had been deputy CIO since 2021. In the new position, he will lead the 90-person investment team overseeing more than A$250 billion ($163.9 billion) in investments.

Future Fund Board of Guardians Chair Peter Costello said Samild’s appointment highlights the depth of talent in Future Fund’s investment team and represents continuity in the fund’s long-term focus.

“Ben brings a strong understanding of the Future Fund as a long-term investor,” Costello said in a statement. “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,” Costello’s statement continued. “This creates a challenging environment for investors, and in his new role, Ben will work closely with the board to navigate this environment.”

Arndt also commented: “Ben has significantly contributed to the direction and performance of the portfolio and has driven our whole portfolio investment approach. I look forward to our strong investment performance continuing under his leadership.”

Samild said he is honored to take on the challenge of leading the investment team.

“I am very passionate about the role the Future Fund plays and have a great deal of respect and admiration for the people who work here,” he said. “Having spent a significant amount of time leading the research and strategic orientation on the impact of contemporary global challenges to the investment environment, I am very excited to be able to steward the portfolio at this critical juncture.”

Following Samild’s promotion, Future Fund’s head of overlays, Hugh Murray, has been appointed acting deputy CIO for portfolio construction. Alicia Gregory will remain 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 in a statement.

This article initially appeared in our sister publication, Financial Standard, which, like CIO, is owned by Institutional Shareholder Services Inc.

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