Ep. 42: Raphael Arndt on Building Resilient Sovereign Wealth Funds

Going Long

Sarah Williamson interviews Raphael Arndt, the Chief Executive Officer of the Future Fund, Australia’s sovereign wealth fund managing A$285 billion on behalf of the Commonwealth of Australia. Arndt shares insights into the Future Fund's culture and investment approach, emphasizing the importance of a collaborative, whole-portfolio strategy. He discusses the impact of global economic and geopolitical shifts on long-term investment strategies, the challenges of managing reputational risk, and the need to adapt to a changing world.

Topics include:

• [00:01:55] Overview of the Future Fund: Background on the establishment, mission, and current management of Australia's sovereign wealth fund.
• [00:06:04] Future Fund’s Investment Culture: Discussion on the collaborative, whole-portfolio approach and the challenges of maintaining this culture during growth and external pressures like COVID-19.
• [00:12:48] Geopolitical and Economic Shifts: Insights on how global geopolitical changes, including a move towards a more multipolar world, are influencing long-term investment strategies.
• [00:23:59] Revisiting Portfolio Construction: Exploring the need for more dynamic and flexible portfolio management in a world of increasing volatility and inflation.
• [00:36:27] Optimism Amidst Change: Arndt's outlook on the opportunities created by the current economic environment, and the importance of adapting to change.