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William Atwood: Life in a Public Pension Fishbowl
Managing a large public pension fund demands transparency, but it “slows you down.”
Bill Atwood works under the hot glare of public scrutiny at the Illinois State Board of Investment, overseeing $14.5 billion in public defined-benefit-plan assets and an additional $3.6 billion in a defined contribution plan for more than 113,000 public employees and retirees. Since he arrived in March 2003, Atwood has improved and upgraded the defined benefit portfolio. He is ever cognizant of fund governance — how ISBI is administered — while juggling the many different stakeholders and observers of the state pension fund.
At aroundtable discussionfor the nine winners of the 2014亚博赞助欧冠U.S. Investment Management Awards, Atwood shared the challenges of his role:
On investing in the public arena
“Given that I’m in Illinois, the value of, and necessity for, transparency and memorialization — to stand up in front of God and everybody and make sure everybody knows exactly what and why we’re doing it — slows you down.”
On investors’ short-term memories
“I’m a little concerned in themacro人们不说话g about risk anymore, the way they were two years ago.”
On the value of active managers
“I’m highly skeptical in public markets how much value long-only active managers can add.”
Atwood is theTop Large Public Pension Investorof the year. For more, read thefull roundtable discussion.
 William A Atwood  Robin Diamonte  Paul Doane  Adele Gorilla  John Hull  Carol McFate  William McLean  Kristen O'Connor  D Ellen Shuman |