BROADCASTS.com

Raff Arndt is the Chief Investment Officer of Australia\u2019s AUZ$145 billion Sovereign Wealth Fund, the Future Fund.\xa0 He trained as an engineer and dove into infrastructure policy at the beginning of Australia\u2019s privatizations in the late 1990s. After investing in the space for six year, he joined the Future Fund in 2008 to head the infrastructure team. Six years later, Raff became CIO.

Our conversation spans all aspects of the management of a next generation institutional portfolio, including a one team, one portfolio philosophy, disaggregating beta and factors from skill in public markets, separating the impact of leverage and timing from skill in private markets, venture capital and co-investment opportunities in a large pool of capital, the option value of flexibility, the team required to make decisions in this format, compensation, fees, views on China, and the current market environment.

Australia created the Future Fund only eleven years ago with a mandate to compound capital for 20 years before even contemplating withdrawals. It has been described to me as a pool of capital with the size and transparency of CalPERS and the sophistication of Yale. I\u2019m sure you\u2019ll soon understand why.

Follow Ted on Twitter at\xa0@tseides\xa0or\xa0LinkedIn

Subscribe to the\xa0mailing list

Access Transcript with\xa0Premium Membership