New Mexico Public Employees Retirement Association, Santa Fe, made changes to the investment lineup of the $485 million State of New Mexico Deferred Compensation Plan, said documents on PERA’s website.
As of Aug. 18, the Calvert Equity Portfolio, managed by Calvert Investments, was replaced by the Vanguard Institutional Index Fund, managed by Vanguard Group. The Calvert investment option had about $5 million as of June 30. Plan officials made the change due to performance, said Jon Grabel, chief investment officer. Annie Cull, Calvert spokeswoman, could not be reached for comment by press time.
The plan’s investment consultant, Mercer Investment Consulting, assisted. Nationwide Retirement Solutions is the plan’s third-party administrator.