Future Fund to slash millions in costs, eyes job cuts
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The news: The Future Fund has announced plans to reduce costs by $10 million to $15 million during the 2026-27 financial year, including a review of 10 roles.
The numbers: The cost reduction would total around 5-7% of current costs, and more savings are expected in subsequent years.
The cost cuts will be made through improved data and technology systems the Future Fund said it had developed internally over the last few years and through renegotiating external services.
The total value of invested funds is now $335 billion.
The context: The 10 roles being reviewed are across investment and non-investment areas to ensure “staffing continues to reflect business needs and priorities”.
Future Fund chief executive Raphael Arndt said in 2020 it identified a ‘new investment order’ that would significantly reshape the investment environment and invested significantly in its data, technology, people, processes and culture.
The Future Fund is currently on the hunt for a new chief investment officer following the departure of Ben Samild in September 2025.
What they said: “Overall, the Agency’s costs and staffing level are appropriate for the scale and complexity or our investment objectives, but we need to make sure that remains the case,” Arndt said.
“We are now ‘baking in’ the benefits of the capabilities we have developed and maximising the efficiencies and new insights they deliver while making sure roles remain aligned with business needs.
“We will continue to assess the resources needed to generate strong-risk adjusted returns in a complex investment environment, making changes where it is prudent to do so.”
The source: Future Fund media release
