The staff of the New Mexico State Investment Office has adopted new Mission, Vision and Values statements to better define the SIC’s role in growing and protecting New Mexico’s Permanent Endowment Funds.
The purpose of the state investment program is to manage the state’s permanent funds for the citizens of New Mexico in order to maximize distributions to the state’s operating budget while preserving the real value of the funds for the future generations of New Mexicans.
Goals and Objectives
- To preserve the Permanent Funds and the benefits they provide through prudent investment and long-term growth of the fund.
- To distribute the legislatively mandated allocations to the beneficiaries.
- To optimize total risk-adjusted returns of the Permanent Funds, as well as the investment pools managed by the SIC on behalf of our clients.
- Internal Investment Strategy Team, overseeing SIC Portfolio Optimization Program
- External Investment Pools (Large Cap Active, Small/Mid Cap, Non-US Emerging and Non-US Developed Markets)
- Economically Targeted Investments (New Mexico private equity, NM Bank CD’s, etc.)
- Other Alternative Investments (national private equity, real estate, real return)
- Program Support (Investment accounting, administrative accounting, purchasing, personnel, contract management, and other administrative support)
- 100+ external investment managers/partners
- Five investment advisors/consultants
- Investment guidance provided by internal & Council Investment Committees
- Investment Policy, Asset Allocation to be set by the Council
Performance Measures and Performance Standards
- Five-year annualized percentile performance ranking in Wilshire Trust Universe Comparison Service (TUCS) – Outcome measure – FY Target greater than the 49th percentile
- Five-year annualized investment returns to exceed internal benchmarks in basis points. – Outcome Measure – FY Target greater than 25 basis points (1 basis point = 1/100th of one percent)