The Missouri Municipal Public Employees Retirement System, a $10.6 billion pension system that manages investments for more than 60,000 members and beneficiaries, announced Wednesday its new CIO, Scott Day.
The fund began its search for a new CIO late last year following the departure of Brian Collett, who left to become managing director of strategic engagement at I Squared Capital. Executive search firm EFL Associates contributed to the search process.
Day, who will join LAGERS on May 1, has been deputy CIO of the $3.5 billion Utah School and Institutional Trust Fund Authority since 2020. Prior to his role at Utah SITFO, he was a managing director at Veras and later a director at Goldman Sachs. As OCIO, he invested in the $15 billion Canada Pension Fund. He was also director of the fixed income division of the Texas Employees Retirement System.
“It is an honor and a privilege to join LAGERS as Chief Investment Officer,” Day said in the announcement. “We are honored to work with such a great organization and talented team as we continue to serve our members. Building on the strong foundation laid by our predecessors, we are committed to developing investment objectives that best serve our members. We look forward to leading the investment efforts to achieve this goal.”
The Missouri Lagers reported one-year, five-year, and 10-year returns of 8%, 9.2%, and 7.8%, respectively, as of December 31, 2023. The fund holds 31.4% of its assets in stocks, 30% in real assets and 28.1% in assets. LAGERS is an investment that aims to create a market neutral position that outperforms in all types of market environments, with these being % in fixed income, 4.3% in strategic assets, and 6.2% in alpha. I explained.
Day holds a bachelor’s degree in accounting from George Mason University.
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Tags: Brian Collett, LAGERS, Missouri, Missouri LAGERS, Missouri Local Public Employees Retirement System, Scott Day
