Pension Funds

North Carolina CIO SigRist resigns

Kevin SigRist, chief investment officer of the North Carolina Retirement Systems, Raleigh, resigned Friday.​

Treasurer Dale Folwell, the sole trustee of the $93.9 billion system, said in a statement he was surprised by Mr. SigRist's resignation letter.

"It was not asked for, but I feel confident that we will continue to provide stable management for the pension fund. We will be announcing plans for the department in the very near future," Mr. Folwell said in the statement.

In his letter to the treasurer, Mr. SigRist thanked his colleagues "for the honor of working alongside them since early 2013." Before then, he was deputy executive director of Florida's State Board of Administration.

Preliminary returns for the 2nd quarter of 2017 showed a 2.7% gain for quarter and 10.6% for the fiscal year ended June 30. During the second quarter, the fund achieved its highest valuations ever, Mr. Folwell said.

Mr. SigRist could not be reached for comment.