Key investment employees who left Australia’s sovereign wealth fund triggered a reverberating “series of echoes” of other worker departures that complicated an organisational overhaul at the $160 billion Future Fund.

A 2018 restructure of the Future Fund’s investment team nearly doubled employee turnover from 11 to 19 per cent when then-chief investment officer Raphael Arndt overhauled the fund’s structure and appointed himself chief strategist overseeing five lines of asset classes.