HELENA, Mont. (AP) - About 125 people have applied to replace the outgoing chief investment officer for the Montana Board of Investments.
Clifford Sheets told the Independent Record (https://bit.ly/1JCiRsK ) he plans to retire in October, after 10 years. He guided the state’s investments through The Great Recession, during which Montana’s investments posted a 20.7 percent loss and the pension assets bottomed out at $5.4 billion in February 2009.
Sheets currently oversees about $16.5 billion in assets being invested on behalf of the state of Montana, including just over $10 billion in eight state pension plans that cover 40,000 Montanans.
When Sheets started in 2005, the return on Montana’s public pension plans ranked in the bottom fourth of all equivalent plans in the country. Now Montana’s returns rank in the top 25 percent.
___
Information from: Independent Record, https://www.helenair.com
Please read our comment policy before commenting.