Institutional Investor Magazine (via Euromoney International Investor Online) has published an extensive profile of Jeffrey Scott, chief investment officer of the Alaska Permanent Fund Corp. for the past two years and an athletic outdoorsman with ideas about how to give the Permanent Fund a more solid investment footing in the wake of the worldwide economic downturn.
Scott arrived ... with a fierce determination to apply the latest and best thinking on investment management to the Permanent Fund. That would mean changing the way the fund's assets had been allocated, invested and monitored for nearly three decades. Scott would have to create an industrial-strength risk management tool and redesign staff assignments. Most challenging of all, he would have to convince fund and state officials that this new path would lead the APF to a more secure future. Scott needs to be more than an investment officer. He is a change agent who is sowing the seeds of a new investment management model far from the world's financial capitals.
But in a departure from his previous experience in private asset risk management, Scott has to satisfy lawmakers and voters as well as the Permanent Fund board.
"At public funds there's a tremendous focus on what they are doing relative to their peers," Scott tells IIM. "The biggest concern is relative performance, not absolute performance. There's pressure from the politicians and pressure from the media."
Read much more about Scott, his investment philosophies and his Permanent Fund strategies here.