May 3, 2017

NM Land Grant Fund up 11 percent -- Albuquerque Journal

The state’s Land Grant Permanent Fund grew by 11.3 percent for the investment year ending in March, pushing New Mexico’s total permanent funds to a record $21.7 billion, State Investment Officer Steve Moise said in a public speech in Albuquerque Tuesday morning.

That puts New Mexico third in the nation after Alaska and Texas in total fund balances compared with the 11 states that have sovereign wealth funds, Moise said at a business breakfast organized by the University of New Mexico’s Anderson School of Management.

As a result, the SIC will distribute nearly $900 million to the state for the next fiscal year that starts in July to help finance public schools, universities, hospitals and other agencies. That’s up from about $300 million distributed 20 years ago. -- 5/2/2017