by Leslie Bonilla Muñiz, Indiana Capital Chronicle
September 17, 2025
Treasurer of State Daniel Elliott on Wednesday announced he’s running for reelection as Indiana’s chief investment officer.
“My job is to safeguard your money and put Hoosiers first,” he said, in a news release. “We’ve delivered historic returns, stood up to powerful interests, and made our communities stronger.”
“I’m running to keep that momentum going,” Elliott, a Republican, added.
His campaign highlighted a “conservative, data-driven” investment strategy that has paid off for the state’s coffers — generating more than $1 billion in returns since he took office in early 2023. That includes about $514 million in the last year alone, more than was earned across the decade prior, he said.
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Elliott has also been active in campaigns to cut foreign and “woke” influences from Indiana’s investment programs.
He and Comptroller Elise Nieshalla celebrated the pension’s system’s “speedy” divestment from Chinese entities last summer. And he put BlackRock — one of the world’s largest asset managers — on a state watch list for illegal environmental, social or governance commitments. He and other trustees voted to dismiss the firm from handling the pension system’s portfolio.
Elliott, a prominent “school choice” supporter, also runs the state’s education and career scholarship account programs. But in the most recent two-year budget, despite his protests, lawmakers handed those responsibilities over to the Department of Education.
The treasurer additionally oversees several quasi-agencies.
TrustINdiana, for instance, offers local units of government a way to invest public funds. INvestABLE Indiana, meanwhile, gives disabled Hoosiers a tax-advantaged way to save money without affecting their eligibility for programs like Medicaid or Supplemental Security Income. And Indiana529 is a tax-advantaged investment plan that helps families save for future educational expenses.
The campaign also touted Elliott’s public safety accomplishments: overseeing the modernization of Indiana’s 911 system, completing the first statewide cybersecurity assessment and training more than 400 dispatchers at no charge to counties. Functions like text-to-911, language translation and geolocation were also deployed to boost emergency responses.
“From record investments to safer communities, we’re building a stronger Indiana for every family,” Elliott said. “I’m not done fighting for you.”
Candidates for the role will be selected at political party conventions — not primary elections — in the spring. Those chosen will face off during the general election next fall.
Elliott won his 2022 bid against Democrat Jessica McClellan with 61% of the vote, according to historical election results from the Indiana secretary of state’s office.
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Indiana Capital Chronicle is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Indiana Capital Chronicle maintains editorial independence. Contact Editor Niki Kelly for questions: info@indianacapitalchronicle.com.
