Money Management Letter - Jeb Burns cio, Michigan Municipal Retirement System

Jeb Burns cio, Michigan Municipal Retirement System

Jeb Burns Jeb Burns, cio for the Michigan Municipal Retirement System is always on the hunt for new talent. Whether it's the internship program he started in conjunction with Michigan State University--which has produced two of the fund's six investment professionals--or his ongoing search for emerging managers to fill out an emerging manager program launched two years ago, Burns likes to find value by giving up-and-comers a chance to shine.

Since he joined the $5 billion fund in 2001, Burns has also spearheaded building out MERS' internal staff and branching out into new asset classes such as commodities, infrastructure, leveraged loans, private equity, high-yield and global bonds and frontier markets.

On Emerging Managers

The fund is continually looking for emerging managers, to which it can award an additional 3% of the portfolio. "I think [investing in emerging managers] gives us the ability to drive good fee arrangements. Also, new managers tend to be hungrier, and they usually have strong returns when they're trying to build up their business," Burns said. The fund has allocated about $100 ...

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Jeb Burns cio, Michigan Municipal Retirement System

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