The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as the liaison with investors, and recognize and avoid serious risks, including those never before encountered.
[1][2][3] According to a press release on October 22, 2008, the United States Department of the Treasury named James H. Lambright to serve as the interim chief investment officer for the Troubled Asset Relief Program.
[5] Chief investment officers at endowments and foundations also consider the liabilities of the organization, with an added focus on liquidity and alternative assets.
[11] The common thread amongst these approaches is the use of commingled funds or model portfolios which creates economies of scale for the OCIO.
Fiduciary Research (FRC), an OCIO who oversees about $9 billion on behalf of a small list of pension fund clients, calls itself an iCIO for integrated chief investment office.