CIO Greatest Hits: Sovereign Wealth Funds – Raphael Arndt (Australia Future Fund) | Capital Allocators – Inside the Institutional Investment Industry

Ted Seides hosts Capital Allocators, featuring interviews with Raphael Arndt from Australia Future Fund (from 2018) and Geoffrey Rubin from CPPIB (from 2022). The episode explores the Total Portfolio Approach of these Sovereign Wealth Funds, contrasting Australia's focus on external manager partnerships with CPPIB's hybrid internal/external management. Arndt discusses his journey to becoming CIO, the Future Fund's strategy, asset allocation, risk management, and investment philosophy, emphasizing a "One Team, One Portfolio" approach, nimble flexibility, and leveraging global expertise through external managers. He also shares insights on equities, private equity, venture capital, and the fund's response to the 2008 financial crisis, along with his views on China and the importance of culture and diversity in decision-making.

Outlines

Part 1: Introduction and Genesis

Part 2: Strategy and Asset Allocation

Part 3: Macroeconomic Outlook and Portfolio Management

Part 4: Value Add and Conclusion

Sign in to continue reading, translating and more.

Open full episode in Podwise

CIO Greatest Hits: Sovereign Wealth Funds – Raphael Arndt (Australia Future Fund)

Capital Allocators – Inside the Institutional Investment Industry

Part 1: Introduction and Genesis

Introduction to Capital Allocators and Show Sponsors

Introduction to Raphael Arndt and the Genesis of the Future Fund

Part 2: Strategy and Asset Allocation

Strategy and Core Principles of the Future Fund

Determining Risk Environment and Asset Allocation Strategy

Leveraging External Managers and Equity Investment Strategy

Detailed Attribution and Long-Short Equity Strategies

Private Equity Approach and Venture Capital Strategy

Part 3: Macroeconomic Outlook and Portfolio Management

Navigating the 2008 Financial Crisis and Current Macroeconomic Outlook

Portfolio Positioning and Team Culture

Addressing Human Biases and Team Incentives

Future Initiatives and Fee Structures

Part 4: Value Add and Conclusion

Assessing Value Add and Closing Questions

End

CIO Greatest Hits: Sovereign Wealth Funds – Raphael Arndt (Australia Future Fund)

Capital Allocators – Inside the Institutional Investment Industry

Part 1: Introduction and Genesis

00:01Introduction to Capital Allocators and Show Sponsors

Introduction to Capital Allocators and Show Sponsors

06:04Introduction to Raphael Arndt and the Genesis of the Future Fund

Introduction to Raphael Arndt and the Genesis of the Future Fund

Part 2: Strategy and Asset Allocation

11:37Strategy and Core Principles of the Future Fund

Strategy and Core Principles of the Future Fund

20:13Determining Risk Environment and Asset Allocation Strategy

Determining Risk Environment and Asset Allocation Strategy

28:51Leveraging External Managers and Equity Investment Strategy

Leveraging External Managers and Equity Investment Strategy

36:18Detailed Attribution and Long-Short Equity Strategies

Detailed Attribution and Long-Short Equity Strategies

42:38Private Equity Approach and Venture Capital Strategy

Private Equity Approach and Venture Capital Strategy

Part 3: Macroeconomic Outlook and Portfolio Management

50:50Navigating the 2008 Financial Crisis and Current Macroeconomic Outlook

Navigating the 2008 Financial Crisis and Current Macroeconomic Outlook

59:55Portfolio Positioning and Team Culture

Portfolio Positioning and Team Culture

1:06:15Addressing Human Biases and Team Incentives

Addressing Human Biases and Team Incentives

1:14:15Future Initiatives and Fee Structures

Future Initiatives and Fee Structures

Part 4: Value Add and Conclusion

1:23:14Assessing Value Add and Closing Questions

Assessing Value Add and Closing Questions

1:29:33End

End