NC Treasurer Cowell Hires New State Pension Fund Manager

As reported this afternoon by Carolina Journal, North Carolina State Treasurer Janet Cowell has hired Shawn Wischmeier, current Chief Investment Officer for the Indiana Public Employees’ Retirement Fund, to take over as Chief Investment Officer of the North Carolina Retirement Systems.

According to the Carolina Journal article, Wischmeier has helped lead Indiana’s pension program through a significant transformation into one of the strongest plans in the country. Their investment portfolio grew 22.61% in value in 2009, higher than the national average of 19.76% and significantly higher than North Carolina’s own performance of 15.08%.