We prove an explicit formula for the total Chern character of the Verlinde bundle over the moduli space of pointed stable curves in terms of tautological classes. The Chern characters of the Verlinde bundles define a semisimple CohFT (the ranks, give
n by the Verlinde formula, determine a semisimple fusion algebra). According to Telemans classification of semisimple CohFTs, there exists an element of Giventals group transforming the fusion algebra into the CohFT. We determine the element using the first Chern class of the Verlinde bundle on the moduli space of nonsingular curves and the projective flatness of the Hitchin connection.
