Thursday, 25 August 2016
Last updated 5 min ago
Nov 29 2007 | 11:08am ET
The New Mexico State Investment Council has increased its allocation to funds of hedge funds in two funds it manages to 15% of assets from 10%.
To accommodate the bump up, the $10.85 billion Land Grant Permanent Fund will decrease its allocation to domestic equities from 53% to 51% and domestic fixed income from 18% to 15%, according to a spokesman. The $4.73 billion Severance Tax Fund will also decrease its domestic equities allocation, from 53% to 48%.
The SIC has currently invested in 16 funds of hedge funds, totaling more than $1.3 billion.