14.04.2015 - New Mexico State Investment Council’s Vince Smith On Diversification
The New Mexico State Investment Council, with more than $20 billion in assets under management, is the second largest sovereign wealth vehicle in the U.S. It traces its history back to land grants in the late nineteenth century. Today it oversees four separate funds and a widely diversified asset base. The [New Mexico State Investment] Council is still in the midst of a very large, multi-year redeployment of its assets, we’re moving from a publicly-traded portfolio — mostly equity investments — to a more diversified portfolio mix, with a large allocation to the private markets. Previously the Council had been very heavily equity-oriented; the exposure to stocks was as much as 85 percent...............................................Full Article: Source
Print