Sovereign wealth fund New Mexico State Investment Council (NMSIC) recorded 22.5% returns during the fiscal year ended June 30. The highest level of returns since the inception of the fund took the total funds managed by the NMSIC to more than $2.5 billion year-over-year.
The council is seeking to cut the overall exposure to the public equities market from a target of 60% to 46%. Among the new long-term investment targets are increased allocations to core real estate and real return assets, including timber and infrastructure. The permanent funds were valued at $15.35 billion at the end of June.
Click here for the release from New Mexico State Investment Council.
