Future Fund chief investment officer Richard Brandweiner will succeed outgoing chief executive Raphael Arndt as head of the $350 billion sovereign wealth fund, having spent less than a year in his current role.
While returns at the fund soared during Arndt’s six-year tenure – it posted a 14.8 per cent gain in his final financial year in charge, adding $37.4 billion to its value – its culture and expenses have come under fire over the past 12 months.
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