Future Fund CIO departs on a high as portfolio records strong growth

The Future Fund’s CIO Ben Samild has announced his resignation, with his deputy to assume the role of interim CIO.

Samild will depart the organisation to assume a position with the Abu Dhabi Investment Council.

Having joined the Future Fund in 2013, Samild has been a part of its investment team for the last 12 years. He was a key member of the senior leadership team before becoming deputy CIO and then CIO in August 2023.

Samild contributed to the Future Fund’s initial 2020 efforts to understand the evolving investment landscape. As CIO, he subsequently led his team in adapting the portfolio’s positioning to reflect these changes.

Future Fund CEO Raphael Arndt said Samild leaves the organisation with a team performing better than ever.

“I want to thank Ben for the significant contribution he has made to the Future Fund over a period that has witnessed wide-ranging changes across the investment landscape,” Arndt said. 

“His investment leadership and collaboration across the team leaves a tremendous legacy and we wish him all the best for the future.”

The announcement follows the Future Fund’s reported $27.4 billion increase in value to $252.3 billion, attributed to robust equity markets, the resilience of private market investments, and proactive portfolio adjustments made in anticipation of shifts in global trading conditions.

Commenting on his departure, Samild said it has been a “privilege to contribute to the success of the Future Fund and to work with such a talented team of investment professionals.”

Hugh Murray, deputy CIO, has been named interim CIO. Samild will provide support during the transition, which will be carried out in accordance with Australian Public Service recruitment guidelines.

“I’m delighted to be stepping into the role and continuing the investment team’s great work, focusing on our joined-up whole-of-portfolio approach to investing. I thank Ben for his support over the years and wish him the best in his new role,” said Murray.

Arndt highlighted Murray’s 14 years of experience and significant contributions to the investment team, emphasising his deep understanding of and dedication to the Future Fund’s investment methodology.

“I am pleased that he will step up to maintain continuity as we work through the recruitment process,” Arndt said.