Chief investment officer Raphael Arndt has been promoted to the top job at the sovereign wealth fund. : The Future Fund has promoted chief investment officer Raphael Arndt to the top job after David Neal resigned as chief executive in February to join fund manager IFM Investors. Dr Arndt has held the role of chief investment officer at the $162 billion sovereign wealth fund since September 2014. He has previously served as investment director with Hastings Funds Management and has also held infrastructure policy positions with both the private sector and the Victorian Department of Treasury and Finance.