Institutional Investors

New Mexico SIC reboots hedge fund target to 8%


The $15 billion New Mexico State Investment Council boosted its target hedge fund allocation to 8% from 5%, after lowering the previous target allocation of 10%, post 2008.

According to spokesman Charles Wollmann, trustees have not decided whether they will keep the current exposure to existing managers or seek additional managers as the portfolio is currently near the 8% target.

The State Investment Council announced record returns of 22.5% for the fiscal year ending 30 June, which translates into growth in the total funds in the portfolio of more than $2.5 billion year-on-year.