Future Fund CEO “concerned” about inflated asset prices
Raphael Arndt, CEO of the Future Fund, said high asset prices are forcing his organisation to build liquidity and consider lower returns. He also worries about rising income inequality.
The ongoing Covid-19 pandemic and the unprecedented issuance of public debt and global stimulus to mitigate its economic impact means institutional investors are having to plot a course into unexplored waters.
For Australia’s Future Fund, one big worry is the wall of stimulus liquidity and consequent rise in asset valuations, making it hard to find returns without seeing balance sheet risk surge.
The A$205 billion ($150 billion) sovereign wealth fund’s new chief executive office…
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