The New Mexico Educational Retirement Board fund, which provides defined pension benefits to the state's public education employees, posted an investment return of 3 percent net of management fees for the three months ending Sept. 30. This marks the eighth consecutive quarter of positive returns. The fund has experienced only one negative quarter in the past 17 calendar quarters.
The fund also reached a new high in assets at $12.6 billion, an increase of $365.6 million for the quarter.
As for longer-term results, net of investment management fees, the fund investments returned 11.1 percent over the past 12 months, a gain of approximately $1.3 billion, 8.3 percent over the past five years and 9.1 percent since July 1983.
"The Board is very pleased with the stability of returns generated by our investment activities," said Educational Retirement Board Chairwoman Mary Lou Cameron in a statement. She added, "This is the result of the favorable investment market conditions and the Board's strategic decision to diversify the portfolio to reduce volatility of the fund's return over time."
The educational retirement pension plan covers close to 60,000 active members paying into the system and 46,000 retirees, ranging from public school teachers, administrators and staff to college faculty and staff.
Members can find a dashboard and detailed investment results on the Educational Retirement Board's website: www.nmerb.org/Investments.html.