Investment Plan - OPERS

More documents

Recommendations

Info

Roger Fox Investment Adviser 2 0 1 0 I N V E S T M E N T P L A N INVESTMENT PROGRAM Fund Management J.G. Lee Fund Manager Joan Stack Trading Manager Christy Ruoff Equity Trader Matt Sherman Senior Equity Trader Fund Management works closely with other areas of the Investment Division and has both investment and non-investment responsibilities. The team is responsible for: Reviewing, monitoring and implementing changes to the asset allocations and related risk budgets for the Defined Benefit, Health Care and Defined Contribution Funds; Performing research and analysis on allocations to asset classes, sub-asset classes and portfolios; Conducting investment risk analysis, assessments and risk management for the Defined Benefit, Health Care and Defined Contribution Funds; Providing quantitative research and analysis in support of internal asset management and other internal group activities; Management of asset class beta, which includes beta portfolios such as the U.S. Equity Index portfolio and passive derivatives portfolios (approximately $19 billion managed internally in 13 accounts); and Equity trading and derivatives trading for internal equity portfolios and asset allocation management. The deputy CIO reports directly to the CIO and is responsible for assuring all area responsibilities are performed. Assisting the deputy CIO are two fund managers, a trading manager, an investment adviser and supporting Staff. 10 Bill Miller Deputy CIO Erick Weis Fund Manager Josh Biddinger Portfolio Assistant David Buchholz Portfolio Assistant Xinyang Gu Quantitative / Research Roger Tong Quantitative / Research Portfolio Assistant Vacant Paul Greff Senior Portfolio Manager Fixed Income
2 0 1 0 I N V E S T M E N T P L A N INVESTMENT PROGRAM Fund Management (continued) One fund manager manages asset allocation research activities and is responsible for the investment performance of beta portfolios such as the U.S. Equity Index portfolio and passive derivatives portfolios as well as analytical projects and various initiatives. The two quantitative/research Staff and portfolio assistant II Staff support the Fund Management group under the direction of the fund manager. The other fund manager is responsible for quantitative research and analytic support for the entire Investment Division, evaluating the risk-and-return characteristics of the funds and the asset class composites across the Investment Division. The trading manager manages two traders and is responsible for executing trades for the Fund Management group portfolios as well as the internally managed Enhanced Index portfolio and REIT portfolio. Trading activities in support of the Fund Management group include executing trades for portfolios during transitions. The trading area executes trades using a variety of tools including electronic algorithmic and program trading systems and, as such, works closely with the investment portfolio managers and the quantitative research group to incorporate enhancements into the trading systems. The area also performs and reviews the analysis of internal transactions from a pre-trade and post-trade perspective using transactions cost-analysis tools and models. The investment adviser assists with forward planning as well as operational, internal audit, information technology, legal, investment accounting and performance matters. The Fund Management group has 12 positions, one of which is vacant. 11
Page 1: Investment Plan 2010 U.S. Equity De
Page 5: 2 0 1 0 I N V E S T M E N T P L A N
Page 8 and 9: 2 0 1 0 I N V E S T M E N T P L A N
Page 14 and 15: Bill Miller Deputy CIO (Internal &
Page 18 and 19: Erik Cagnina Portfolio Manager Secu
Page 66 and 67:
2 0 1 0 I N V E S T M E N T P L A N
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 95:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114:
show all

Investment Plan - OPERS

Create successful ePaper yourself

Delete template?

Save as template?