{"id":13222,"date":"2010-02-17T10:37:44","date_gmt":"2010-02-17T17:37:44","guid":{"rendered":"http:\/\/www.nmpolitics.net\/index\/?p=13222"},"modified":"2010-02-17T10:37:52","modified_gmt":"2010-02-17T17:37:52","slug":"sic-investment-distributions-grow","status":"publish","type":"post","link":"https:\/\/nmpolitics.net\/index\/2010\/02\/sic-investment-distributions-grow\/","title":{"rendered":"SIC investment distributions grow"},"content":{"rendered":"<div id=\"attachment_8030\"  class=\"wp-caption module image alignright\" style=\"max-width: 300px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-8030\" title=\"Roundhouse\" src=\"http:\/\/www.nmpolitics.net\/index\/wp-content\/uploads\/2009\/10\/Roundhouse-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2009\/10\/Roundhouse-300x225.jpg 300w, https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2009\/10\/Roundhouse-336x252.jpg 336w, https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2009\/10\/Roundhouse.jpg 500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-caption-text\">The Roundhouse in Santa Fe (Photo by Peter St. Cyr)<\/p><\/div>\n<p>While lawmakers continue to debate how to reform the State Investment Council, the group&#8217;s board has announced it will distribute $720 million to public schools and other permanent fund <a href=\"http:\/\/www.sic.state.nm.us\/clients.htm\">beneficiaries<\/a> in fiscal year 2011 &#8212; an $8 million increase over the current year.<\/p>\n<p>After the 2008 market collapse and credit crisis, the state <a href=\"http:\/\/www.sic.state.nm.us\/land_grant.htm\">Land Grant Permanent Fund <\/a>investment grew 21.2 percent in 2009 &#8212; outperforming its policy index by 4.5 percent.\u00a0 That return ranked in the top third amoung its peers.<\/p>\n<p>Investment returns were also in double digits for the <a href=\"http:\/\/www.sic.state.nm.us\/severance.htm\">Severance Tax Permanent Fund <\/a>last year. It grew 19.8 percent &#8212; outperforming its benchmark by 4.4 percent. It ranked in the 43rd percentile among its peers in the same time period.<\/p>\n<p>&#8220;These distributions show the overall vitality of the Permanent Funds, which continue to experience long-tterm growth, despite the economic downturn,&#8221; interim State Investment Officer Bob Jackson said in a news release. &#8220;This is the ultimate purpose of these trust dollars &#8212; to produce steady earnings that benefit New Mexico residents today, as well as future generations.&#8221;<\/p>\n<p>Annual distributions are based on a 5-year rolling average of the state&#8217;s permanent endowment and are established by the state&#8217;s contitution.<\/p>\n<p>Perfomance data and individual SIC manager performance for 2009 can be reviewed <a href=\"http:\/\/www.sic.state.nm.us\/publications.htm\">online<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While lawmakers continue to debate how to reform the State Investment Council, the group&#8217;s board has announced it will distribute $720 million to public schools and other permanent fund beneficiaries in fiscal year 2011 &#8212; an $8 million increase over the current year.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,1],"tags":[118,107],"class_list":["post-13222","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","category-uncategorized","tag-economy","tag-roundhouse"],"_links":{"self":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/13222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/comments?post=13222"}],"version-history":[{"count":0,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/13222\/revisions"}],"wp:attachment":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/media?parent=13222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/categories?post=13222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/tags?post=13222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}