About Investment Management

The Investment Mangement DIvision serves as the investment arm for the Department of State Treasurer. This Division employs more than 20 investment professionals that provide the expertise for state government investing. At the end of the fiscal year ending December 31, 2018, total assets of these programs were $116.6 Billion.

The Investment Management Division is responsible for the management of:

The Short-Term Investment Fund (STIF)

Responsible for managing the operating funds of the State. The main participants in this program are the State’s General Fund and Highway Funds. For more information on the investment of these assets, please visit the Cash Management Overview page.

The Pension Fund Investment Program

The majority of the assets managed by the Investment Management Division belong to the various pension funds administered by the State Treasurer. Collectively, these systems and funds are referred to as the North Carolina Retirement System. For more information on the investment of these assets, please visit the Pension Fund Overview page.

The Ancillary Investment Programs

As authorized by the General Assembly, responsible for managing assets for the Escheats Fund, Public Hospital Funds, the Local Government Other Post-Employment Benefits Fund, Local Government Law Enforcement Special Separation Allowance Fund, and other Non-Pension assets.       

For more detailed information, visit the Ancillary Governmental Participant Investment Program (AGPIP) page.

Division Information

Main Phone Number (919) 814-4330

Investment Management Contacts Title
Jeff Smith Interim Co-CIO, Director of Fixed Income
Christopher Morris Interim Co-CIO, Chief Risk & Operating Officer
Rhonda Smith Director of Public Equity
Craig Demko Director of Private Equity
Ronald Funderburk Director of Opportunistic Fixed Income/Inflation Sensitive
Matthew Krimm Director of Investment Operations and Risk