Bjorn Kvarnskog will join Australia's A$117.8 billion ($85.5 billion) Future Fund in early 2016 as head of equities and a member of the Melbourne-based sovereign wealth fund's investment committee.
Mr. Kvarnskog will take over that position from acting head of equities Sarah Carne, who took over when Elspeth Lumsden, the fund's previous head of equities, left in late 2014, spokesman Will Hetherton said in an e-mail. Ms. Carne will resume her position of director, equities.
Mr. Kvarnskog will relocate to Melbourne from Stockholm, where he served as head of global equities with the 310.5 billion Swedish kronor ($37.6 billion) AP4, Stockholm.
Magnus Eriksson, deputy CEO and chief investment officer of AP4, said Mr. Kvarnskog was replaced by Per Colleen, the fund's head of Swedish equities. Mr. Colleen will retain his previous responsibilities.
A recent portfolio update showed the Future Fund with a 33.1% weighting to publicly listed equities as of Sept. 30: A$22.1 billion, or 18.8%, in developed markets equities; A$9.3 billion, or 7.9%, in emerging markets equities; and A$7.6 billion, or 6.4%, in Australian equities.