New Mexico State Investment Council, Santa Fe, returned 13.07% gross of fees for the year ended June 30, an annualized 4.26% for the five years and an annualized 6.78% for the 10 years ended that date.
The $17 billion endowment fund's best-performing asset class for the one-year period was its $6.3 billion U.S. equity portfolio, which earned 21.89%, followed by its $694 million credit and structured finance pool with a 20.76% return for the year.
The investment council's largest endowment, the $12.1 billion Land Grant fund's actual allocation as of June 30 was 37% U.S. equities, 13.8% non-U.S. equities, 22.8% fixed income, 7% absolute return, 9.6% private equity, 6.2% real estate, 3% real return and 0.6% cash equivalents. The fund's target allocation is 37% U.S. equities, 20% fixed income, 15% non-U.S. equities, 10% private equity, 8% real estate, 7% absolute return and 3% real return.
