1. MARUTI D. MORẾ, CFA
moremaruti@yahoo.com
1945 Kearney Street
Denver, CO 80220
832-289-4425
SUMMARY
Over 25 years experience in managing institutional fixed income portfolios, 4 years experience in trading and managing
derivatives, and 4 years experience in fundamental equity research. Trained and supervised research analysts and portfolio
managers. Successfully designed and executed total return and asset/liability management strategies for pension and insurance
fixed income portfolios. Managed equity mutual funds and overseen external sub-advisors. Well versed in the use of
quantitative and fundamental analytical tools for security selection, portfolio management, derivatives applications, and
performance attribution. Goal oriented self-starter with excellent interpersonal, computing and networking skills.
PROFESSIONAL EXPERIENCE
COLORADO PUBLIC EMPLOYEES’ RETIREMENT ASSOCIATION (PERA), Denver, CO 2007- 2015
Senior Portfolio Manager 2009- 2015
• Managed $200 million Long Duration Portfolio to earn risk-adjusted excess total returns over Barclays Long
Govt/Credit Index for the $45 billion Colorado PERA. Portfolio invests in longer than 10-year maturity Treasury,
Agency, Corporate, Emerging Market Sovereign/Credit, and Taxable Municipal sectors, including Public
Infrastructure investments to support part of the structure of PERA’s long-term pension liabilities. The portfolio has
consistently outperformed the Long Govt/Credit Index since August 2009
Director of Fixed Income 2007-2009
• Directed the management of $10 billion fixed income portfolios managed internally and externally. Internal Portfolios
were invested in Government, Corporate, MBS/CMBS, and Emerging Markets. External portfolios were invested in
an Index Fund, High Yield, Intermediate Credit, and Agency/Non-Agency MBS securities. Supervised professional
internal staff of nine and five external investment managers.
• As a member, participated in the 401(K) Investment Advisory Committee, the Investment Management Team of
PERA, and the State Treasurer’s Investment Advisory Committee.
SMITH GRAHAM & COMPANY INVESTMENT ADVISORS, LP, Houston, TX 2003-2007
Senior Vice President and Director of Fixed Income
• Co-managed over $2 billion institutional fixed income core and core-plus portfolios for total return with long,
intermediate and short duration mandates. Securities utilized included Govt, Corporate,
MBS/CMO/CMBS/ABS, High Yield, and Non-Dollar.
• Jointly supervised a professional staff of five covering trading and research functions.
VANDERBILT CAPITAL ADVISORS, LLC, New York, NY 2001-2002
Senior Portfolio Manager
• Conducted research, initiated trade ideas, and executed trades. Participated in total return management of corporate
bonds from $4.2 billion institutional fixed income portfolios. Provide advice on credits for credit derivatives.
• As a team member oversaw the management of all $4.2 billion institutional portfolios consisting of Govt,
Corporate, MBS/CMO/CMBS/ABS, High Yield, Non-Dollar, and Equities.
AMERICAN GENERAL CORPORATION, Houston, TX 1996-2000
Vice President – Portfolio Management, (AGIM )
Vice President – Investments, (VALIC)
• Designed and executed derivatives transactions consisting of interest rate and cross-currency swaps, equity futures and
options, and swaptions ($8.7 billion) for all AGC insurance companies with total assets of over $70 billion to minimize
RBC charges and hedge $10 billion investments in callable MBS/CMO/ABS/Corporate securities.
• Overseen and maintained relationships with 22 sub-advisors and alliance partners managing 84 mutual funds with
$13.5 billion in domestic and international stocks and bonds for VALIC. Responsible for monitoring regulatory and
internal compliance requirements and due diligence of sub-advisors and alliance partners.
• Managed VALIC variable annuity stock mutual fund portfolios ($605 million) for total return. Managed $375 million
AGC fixed income pension portfolio for total return. Supervised 2 Portfolio Analysts.

2. MARUTI D. MORẾ, CFA - Page 2
PAUL REVERE INVESTMENT MANAGEMENT CORPORATION, Worcester, MA 1993-1995
Managing Director - Marketable Securities
• Managed over $4.5 billion in public bond portfolios supporting investment needs of Paul Revere and AVCO
Insurance product lines. Designed and implemented asset/liability matching strategies to stabilize economic
surplus and optimize funding ratios.
• Developed hedging programs utilizing fixed income derivatives to minimize interest rate risks. Portfolio assets
invested in government, corporate, MBS/CMOs, Canadian, Yankee, convertible, and municipal securities.
• Managed a staff of three Second Vice Presidents responsible for credit research and trading and a trading assistant
Worked closely with actuaries, product managers, and Investment Committee members.
DEWEY SQUARE INVESTORS, Boston, MA 1986-1993
Senior Portfolio Manager/Credit Analyst
• Managed total return fixed income portfolios for large domestic and global investors with assets exceeding $2 billion
• Also managed structured bond portfolios a large corporate client with assets of $300 million.
• Total return performance exceeded targeted market indexes.
NEW YORK LIFE INSURANCE COMPANY, New York, NY 1983-1986
Investment Vice President-Portfolio Manager
• Managed universal life and fixed income mutual fund portfolios with assets exceeding $535 million. Assets
invested in government, corporate, convertible, and MBS/CMOs. Investment performance of portfolios managed
exceeded targeted returns. Trained and supervised a Credit/Portfolio Analyst.
• Developed corporate hedging program utilizing financial futures for $500 million fixed income assets invested in
universal/whole life, GIC, SPDA, private placements, and mortgages. Presented to and secured approval from
head of Investment Department for hedging and active management of $3 billion in public bonds.
• As member of Investment Committee, played active role in decision-making process relating to investments in
leverage buyouts, venture capital, private placements and oil and gas explorations.
STATE OF CONNECTICUT TREASURY, Hartford, CT 1979-1983
Investment Officer - Portfolio Manager
• Managed and supervised the $1.2 billion state retirement system fixed income portfolio for total return by investing in
government, corporate, Yankee, and MBS securities.
• Formulated investment strategies, negotiated and executed bond trades, supervised two credit research analysts, and
actively managed $1.0 billion in-house fixed income assets.
• Supervised two external fixed income investment advisors managing $200 million of state retirement system.
• Total return investment performance consistently exceeded targeted market index during bear, bull, and full cycle
from 1979-1983.
STATE OF WISCONSIN INVESTMENT BOARD, Madison, WI 1974-1979
Investment Officer-Assistant Portfolio Manager 1978-1979
• Assisted in formulation of investment strategy and management of $1.5 billion Public Bond Portfolio backed by
government, corporate, MBS, and Canadian securities. Negotiated and executed bond trades.
• Developed comprehensive fixed income research and review system.
• Supervised credit research and trained a Credit Analyst. Reviewed over 200 computer programs on bond analysis and
portfolio management, and used selected bond valuation techniques.
Senior Analyst, Stocks 1974-1978
• Performed fundamental research analysis of financial statements of companies in Aerospace/Defense, Food /Beverage,
Telephone, Electric Utilities, Natural Gas industries and made recommendations for investment in a $1 billion Common
Stock Portfolio after doing due diligence with senior company management. Also approved company credits for
investment in public bonds, and worked out distressed real estate properties by working with real estate consultants and
property manages.
EDUCATION: C.F.A., M.B.A. (Finance), M.A., (Economics), LL.B. (Bachelor of Laws)
ANALYTICAL TOOLS USED: POINT, YIELD BOOK, CMS, GAT, GFA, BARRA, Bloomberg , Lipper,
Morningstar , First Call, FactSet, Shaw, PAM, PTS, Charles River System, Long View Trading System