NM Investment Funds Up Nearly $2 Billion In Quarter
A legislative report shows New Mexico's endowment and pension funds grew by nearly $1.9 billion during the first quarter of the year.
The Legislative Finance Committee reports that the Public Employees Retirement Association had investment returns of 5.4 percent during the first three months of the year, with pension fund assets of $13 billion.
The Educational Retirement Board had quarterly returns of nearly 4 percent, with assets of $10 billion at the end of March.
Investment returns were almost 5 percent for the Land Grant Permanent Fund and 4.6 percent for the Severance Tax Permanent Fund. They had combined assets of $16 billion.
Three-year returns for each of the funds ranged from about 8 percent to 9 percent.
Combined fund asset values increased $1.9 billion in the quarter.
Copyright 2013 The Associated Press.