003 · Benchmarks
New Mexico Educational.
Targets, ranges and benchmarks as the document states them. Our copy of the IPS.
| Asset class | Bucket | Target | Range | Benchmark |
|---|---|---|---|---|
| Domestic Equities | Public Equity | 19% | 9–35% | — |
| International Equities | Public Equity | 8% | 4–20% | — |
| Total Equities | Public Equity | 27% | 13–55% | — |
| Opportunistic Credit | Private Credit / Debt | 18% | 0–35% | 50% ICE BofA US High Yield BB-B (2% constrained) / 50% CSFB Leveraged Loan50% Merrill Lynch U.S. High Yield BB-B (2% constrained)/50% CSFB Levered Loan Index |
| Core Bonds | Fixed Income | 6% | 2–25% | FTSE / Russell USBIGFTSE / Russell USBIG Index |
| Total Fixed Income | Fixed Income | 24% | 2–60% | — |
| Real Estate/REITs | Real Estate | 8% | 0–15% | NCREIF NPI / MSCI US REITNCREIF Property Index / MSCI US REIT (Gross) |
| Real Assets | Real Assets / Infrastructure | 13% | 0–25% | CPI + 4% |
| Private Equity | Private Equity | 16% | 0–35% | State Street Private Equity (All PE)State Street Private Equity Index (All PE) |
| Diversifying Assets | Hedge Funds / Absolute Return | 11% | 0–18% | SOFR + 2%SOFR +200 basis points |
| Total Alternatives | Multi-Asset / Other | 48% | 10–65% | — |
| Cash | Cash | 1% | 0–25% | — |
| Domestic Equities - Large Cap | Public Equity | — | — | S&P 500 |
| Domestic Equities - Small/mid Cap | Public Equity | — | — | Russell 2500 |
| International Equities - Developed | Public Equity | — | — | MSCI EAFE |
| International Equities - Emerging Markets | Public Equity | — | — | MSCI Emerging Markets |