ALBUQUERQUE, N.M. (AP) — New Mexico has recovered all of its losses since the recession began five years ago.
The value of the state's permanent funds has grown to 16 percent higher than what it was before the market crashed. At the end of 2013, the State Investment Council had an estimated $18.64 billion under management.
The increase in returns on fund investments has also placed New Mexico among the better-performing funds compared to its peers nationwide. In 2009, the state was ranked among the bottom.
SIC board members and staff tell the Albuquerque Journal (http://bit.ly/1jhVeZM) improvement in fund performance, plus the council's smooth functioning nowadays, are the result of four years of steady, major reform.
Spokesman Charles Wollmann says the council has carried out one of the biggest portfolio overhauls in the country in recent years.
Information from: Albuquerque Journal, http://www.abqjournal.com