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Investment funds gain $2B this quarter
Updated: Thursday, 14 Jun 2012, 9:54 AM MDT
Published : Thursday, 14 Jun 2012, 9:54 AM MDT
SANTA FE (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 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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