TRUSTEES’ CORNER

INVESTMENT & RETIREMENT UPDATES: By Lieutenant James P. Maloney,
Elected Trustee • Recording Secretary • Chairman of the Investment Committee

Policemens First of all I want to congratulate all our retirees for 2016. Thank you for your years of service to the Citizens of Chicago. I also want to thank our hardworking staff at the Pension Fund for their service and devotion.

I want to welcome our new Chief Investment Officer (CIO), Aoifinn Devitt. She joined our Fund in April of 2016. She is an extremely competent and knowledgeable investment professional. I look forward to working with her. All the investment managers who have met with her tell me we have a great person with her and she is very smart.

I want to welcome our new Chief Investment Officer (CIO), Aoifinn Devitt. She joined our Fund in April of 2016. She is an extremely competent and knowledgeable investment professional. I look forward to working with her. All the investment managers who have met with her tell me we have a great person with her and she is very smart.

The Fund has hired a manager for a Private Debt strategy with a European focus. Many managers I had met with believe there is a great opportunity in this space, especially in Europe with the bank lending ratio changes over the past few years. We may be looking to add to this space. We are also hiring Opportunistic Credit strategy managers. These are income generating strategies which will help our Fund with liquidity issues. We are also in the middle of an RFP for an Investment Consultant. We are mandated by the State of Illinois to perform an RFP for Consultant at least once every five years.

I was proud to serve as the Acting CIO since November, 2014. It was an interesting experience. I worked in partnership with our Pension Consultant and our Executive Director. We continued along a short and long term roadmap and strategy for our Pension Fund.

Thank you,

Lieutenant James Maloney, Elected Trustee • Recording Secretary • Chairman of the Investment Committee

Lt. James Maloney, Elected Trustee [BACK]