Updated
New Mexico Educational Retirement Board, Santa Fe, returned 19.9% on its investments for the fiscal year ended June 30, up from 18.6% in the prior fiscal year, Bob Jacksha, chief investment officer at the $9.5 billion fund, wrote in an e-mailed response to inquiries.
The best-performing asset classes in the fiscal year were real estate, which includes REITs and equity real estate, at 33.1%, and domestic equities at 31.7%.
Mr. Jacksha noted in a separate e-mail that the fiscal-year returns are the best since 1997.
“All of our various asset allocations had positive returns for the year … We expect our relatively low allocation to equities to be a positive in this type of environment,” he wrote.
