One of Raphael Arndt’s first jobs when he joined the then $60 billion Future Fund in 2008 was to sell down its massive stake in Telstra, in what was one of the largest block trades in Australian history.
On Wednesday, one of Arndt’s last tasks was to announce one of the fund’s best-ever years, as the 14.8 per cent return in the 2026 financial year lifted the fund’s value by $37.4 billion to $289 billion.
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