Australia’s $168B (A$252.3B) sovereign wealth fund, the Future Fund Management Agency (Future Fund), has appointed Hugh Murray, interim chief investment officer, as it begins a search for Ben Samild’s replacement.
According to a news release, Samild is leaving the fund after more than a decade to join an undisclosed institutional investor in the Middle East. He began his career at Future Fund as a director of debt and alternatives, rising up the ranks to head up the alts team before assuming the deputy CIO role in 2021. A year later, he was tapped to lead the investment team as CIO.
“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,” said Raphael Arndt, Future Fund’s chief executive officer, in the release. “His investment leadership and collaboration across the team leaves a tremendous legacy and we wish him all the best for the future.”
He went on to note that Murray has extensive knowledge and experience in the industry, including spending 14 years playing a leading role on the Future Fund investment team.
“I am pleased that he will step up to maintain continuity as we work through the recruitment process,” said Arndt.
As of June 30, 2025, the fund returned 12.2% for the year – double the mandated target of 6.1%, according to a separate news release. It noted that activity in the portfolio totaled $90B and touched on all sectors as the fund sought more active returns, regional diversification, and enhanced liquidity and flexibility.
