The Missouri Local Government Employees Retirement System, a $10.6 billion pension system which manages investments for more than 60,000 members and beneficiaries, announced Scott Day as its new CIO on Wednesday.
Scott Day
The fund began a search for a new CIO at the end of last year, following the departure of Brian Collet, 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 start at LAGERS on May 1, has been deputy CIO of the $3.5 billion Utah School and Institutional Trust Funds Office since 2020. Prior to his position at Utah SITFO, he was a managing director at Verus and later Goldman Sachs, serving as OCIO to a $15 billion Canadian pension fund. He was also a director of fixed income at the Employees Retirement System of Texas.
“It is an honor and privilege to join LAGERS as the chief investment officer,” said Day in the announcement. “I am humbled to be able to work with such an outstanding organization and talented team to continue to serve the members. I look forward to building upon the strong foundation established by my predecessors and leading the investment efforts to achieve the investment goals that best serve our members.”
Missouri LAGERS reported one-, five- and 10-year returns of 8%, 9.2% and 7.8%, respectively, as of December 31, 2023. The fund has 31.4% of its assets in equities, 30% in real assets, 28.1% in fixed income, 4.3% in strategic assets and 6.2% in alpha, which LAGERS described as investments which seek to create a market-neutral position that outperforms in all types of market environments.
Day holds a bachelor’s degree in accounting from George Mason University.
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