New Mexico State Investment Council, Santa Fe, plans to issue an RFP next week for one or more active investment managers to run a liquid short-duration high-yield fixed-income strategy, spokesman Charles Wollmann said.
The size of the allocations will be determined after council officials select strategies, said Tom Lofton, director of fixed income, to the council at its meeting Tuesday.
The council oversees $43.1 billion in endowments.
Active strategies offering exposure to the more liquid sectors of the asset class inside of five years duration will be considered, a staff memo said. Currently, the short-duration pool does not have high-yield market strategies.
The council could make a selection by early fall. The RFP will be posted on the council's website.