240. Catch up with Angela Miller-May – CIO of IMRF – What Keeps a CIO Up At Night?

Angela Miller-May is CIO at Illinois Municipal Retirement Fund a public defined benefit fund based in Oak Brook IL which has over $40 bn in assets under management.Angela is a regular figure on the asset management conference circuit and has become a leading voice in promoting diversity and inclusion in the industry. She appeared as the third guest on the podcast in 2020 during her tenure as CIO of Chicago Teachers.

This wide-ranging discussion follows Angela into a larger plan, which has a solid funding level (98%) and the same bold vision around emerging managers that many Illinois plans share.  She discusses what keeps her up at night – the desire to always improve the portfolio, leaving no stone unturned as she does so. We move to the challenges with strategic planning, and setting reasonable targets for execution of broad, sweeping change.

In particular we look at the decision to manage equity in house or externally, and the objective of investing in emerging managers.  IMRF goes above and beyond in nurturing this community and we hear about the network it creates and the feedback it provides – which are all part of Angela’s desire to make a mark, use her position to creat impact and to influence the direction of travel for the industry.

We end with reflection on the peers in the industry, and what she has learned from them. Please enjoy this conversation with one of our industries most industrious and committed leaders.

Series 1 of 2024 is supported by Apollo Global Management, a leading provider of alternative asset management and retirement services solutions. Apollo seeks to provide clients excess return at every point along the risk-reward spectrum and is focused on empowering retirees, building and financing stronger businesses and driving a more sustainable future