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Frank Mihail joined the North Dakota Department of Trust Lands as cio in January 2023, where he is responsible for overseeing a three-person team and the agency’s approximately $7.5 billion trust fund portfolio. Mihail, who is tasked with managing overall investment strategies and portfolio construction, directing analyses across asset classes in the implementation of multiple investment strategies and monitoring investment performance, money manager reviews and underlying risks, took the time to answer five questions plus one extra with FIN News.
The retirement system terminated a domestic small-cap growth equity manager last month for performance reasons.
Three total firms submitted proposals to an RFP process that began in August.
The plan will also interview a finalist in its domestic large-cap core equity manager search next month.
The agency is seeking an executive search firm to assist with both its executive director and chief financial operating officer recruitment.
The position reports to Deputy CIO of Private Markets Allen Waldrop and CIO Marcus Frampton.
The Canadian plan promoted from within for its next cio.
The plan is seeking firms providing long-only convertible bond products and will consider U.S. and global strategies.
The incumbent will continue to provide investment advisory services for the city’s $225 million investment portfolio.
The plan issued an RFP in June “as part of its fiduciary responsibility.”