NM investment funds gain $2B during quarter

June 15, 2012 • State News

SANTA FE, N.M. (AP) — New Mexico’s investment funds grew by more than $2 billion during the first three months of the year because of strong investment returns.

The Legislative Finance Committee reports state permanent funds [auth] and the pension funds of the Public Employees Retirement Association and the Educational Retirement Board had combined asset values of nearly $36.6 billion at the end of March. That’s up about $279 million from a year ago.

The PERA had a quarterly return of 8 percent and assets of $12 billion.

The ERB had a return of 7 percent and assets of nearly $9.6 billion.

The Land Grant Permanent Fund had a return of nearly 9.5 percent and assets of almost $11 billion.

The Severance Tax Permanent Fund had assets of $3.9 billion and a nearly 8.7 percent return.

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