New Mexico Educational Retirement Board, Santa Fe, returned 0.6% net of fees in 2018, the $12.5 billion pension fund reported Tuesday.
Longer term gains were 7.5% over the past three years, 6.3% for the past five years and 9.6% during the past 10 years.
Educational Retirement Board Chair Mary Lou Cameron said in a statement that given 2018's stock market, "the positive results during this period validate our risk-reduction strategy achieved through broad diversification across various markets and strategies."
As of Dec. 31, the asset allocation was 30% equities, 18% opportunistic credit, 15% private equity, 12% diversifying assets, 7% core fixed income, 8% real assets, 6% real estate, 2% emerging market debt and 2% cash.
