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Australia Wealth Fund Plans to Hire 70 For Investment Team

  • Future Fund looking to recruit for “alpha-seeking” strategies
  • “Investment environment is more challenging,” says CEO Arndt

Australia’s sovereign wealth fund intends to almost double the staff on its investment team as it warns returns will be harder to generate during a protracted period of low interest rates.

The Future Fund aims to hire about 70 people over the next year to help mandate cash to hedge funds, private equity and other skill-based strategies, Chief Executive Officer Raphael Arndt said in testimony to parliament Wednesday. The firm needs more staff to find managers with skill to meet its long-term return target of 4%-5% above inflation, he added.