NMSIC News:
SANTA FE – The New Mexico State Investment Council (NMSIC) attended a two-day retreat, which featured discussions regarding the adoption of new vision and mission statements, the NMSIC fund’s growth, and potential sources of risk, including political, economic, human resources, diversification, governance and operational risks.
The NMSIC is expected to achieve the goal of growing the fund to at least $100 billion in the next seven to 10 years. As a result of these discussions, NMSIC placed diversification of assets and investment management teams at the forefront of its new vision and mission statements. This move cements the NMSIC’s status as a highly competitive global leader in innovative, results-driven investment strategies.
Currently, less than 1% of NMSIC’s more than $58 billion is managed by diverse money managers, such as women, people of color or Veterans. Reports released by the National Association of Investment Companies highlight the fact that diversified investment teams consistently outperform the benchmark median return.
NMSIC’s adopted vision reads:
- “For the betterment of all New Mexicans, become the best managed and diversified sovereign wealth fund in the world.”
NMSIC’s mission statement reads:
- “The NMSIC will preserve, diversify, provide transparency and grow the assets placed under management to enrich lives of all New Mexicans.”
NMSIC’s new vision and mission will guide its investment philosophy and policy, adding significant value to New Mexico’s portfolios through diversification of staff, consultants, investments, and money managers with the intent of navigating risk and yielding stronger returns.
“The New Mexico State Investment Council and the team that does the day-to-day operations work strategically and calculatedly to protect and increase the $58 billion portfolio through thoughtful and deliberate action,” said State Treasurer Laura M. Montoya, an ex officio member of the NMSIC. “New Mexico is a majority-minority state with tremendous untapped potential, and NMSIC’s forward-thinking approach to the makeup of our investments, from the team to the fund managers, sustains and reflects New Mexico’s uniquely diverse resource and population landscapes. When our investments remain in lockstep with our state’s values and who we serve, we maximize yield, minimize risk, and build a resilient economy that keeps New Mexicans in-state and uplifts our communities.”
By embracing diversity, sustainability, and innovation within its vision and mission statements, New Mexico has redefined sovereign wealth fund management and set a new standard for other states and nations to follow.
About New Mexico State Investment Council:
The New Mexico State Investment Council (NMSIC) is a Sovereign Wealth Fund that manages the investments for New Mexico’s four permanent funds: the Land Grant Permanent Fund, the Severance Tax Permanent Fund, the Tobacco Settlement Permanent Fund, and the Water Trust Fund. The three largest long-term investment funds managed by NMSIC grew by $24.2 billion (101.6%) over the last five years, with total assets managed now totaling over $58 billion. SIC is the 33rd largest sovereign wealth fund globally and has been recognized for Top Chief Investment Officer in the World in 2014, Strategy Award by MarketsGroup in 2023, and CIO Top 100 Chief Investment Officers across all asset classes.
