Future Fund appoints new Head of Equities

The Future Fund, Australia's sovereign wealth fund, which has over $118b in funds under management including $39b in equity assets, has announced the appointment of Björn Kvarnskog as its new head of equities. Kvarnskog, who will report to the Future Fund's chief investment officer, Raphael Arndt, has also been appointed to the investment committee.

Kvarnskog leaves Swedish pension fund AP4 as head of equities after seven years with the fund. His previous roles included senior equities investment positions with DnB NOR Asset Management - Norway's largest financial services group, AP3 and Alfred Berg Asset Management.

He will relocate from Stockholm to take up the new position in early 2016 and will take over the reigns from Sarah Carne who was appointed acting head of equities after Elspeth Lumsden's departure from the fund in December 2014.

In a statement from the fund, Raphael Arndt said: "Sarah Carne has done a tremendous job in filling the acting Head of Equities position while we have undertaken the recruitment process. I am very grateful to her for her hard work and commitment and she will continue to lead the team until Björn takes up his role."