Raphael Arndt delivered a big return that reflected long-term bets on a more inflationary, riskier world. But he says AI will be his successor’s big challenge.

Raphael Arndt delivered a big return that reflected long-term bets on a more inflationary, riskier world. But he says AI will be his successor’s big challenge.

The Future Fund’s long-serving chief executive Raphael Arndt is heading to the private sector after the fund returned 14.8pc in the past financial year.