The Future fund hires chief economist

The $200 billion Future Fund has appointed Toby Johnston as chief economist reporting to investment chief Sue Brake.

Johnston joins from Wellington Management where he worked as a global macro strategist for more than 17 years.

In his newly created role, he will provide strategic advice, analysis, and insights on relevant global macro-economic issues and opportunities to the sovereign wealth fund and the board of guardians.

Commenting on the appointment, Brake warned that the world is changing and how the Future Fund responds to these changes is critical.

She said the new role will deepen the Fund's understanding of key macroeconomic issues as discussed in its recent position paper called A New Investment Order. 

Johnstone will bring a strong investment lens to analysing and responding to those issues, Brake added.

"Toby is a deeply experienced and highly regarded investment and economics professional with global expertise. His appointment further bolsters the agency's strategic investment capabilities and it will enrich the quality and value of the advice we provide to the board as it navigates the new investment world."

The Future Fund recorded a 1.2 percent gain for the three months ended September 30.

For the year to September, the sovereign wealth fund reported a 22.3 percent profit beating the 22.2 percent return it delivered for the financial year through June 30.