New Mexico State Treasurer Tim Eichenberg announced today that during his eight-year tenure, the State Treasurer’s Office earned $541,538,760 on its investments.
Eichenberg credits the Investment Division for the record-breaking earnings. “Chief Investment Officer Vikki Hanges is ably assisted by Senior Portfolio Manager Anna Murphy and our new Assistant Portfolio Manager Frank Nichol,” he noted. “This is an incredible team. They have worked diligently over the past eight years—including some very tough years for investment professionals.”
During fiscal year 2022, the division earned approximately $68 million. At the end of FY2022, the five portfolios it oversees totaled approximately $14.5 billion. All funds are invested in a manner that conforms to federal, state, and other legal requirements.
“I’ve charged the investment team to observe three priorities in making investment decisions. First is safety, preserving the principal of the funds to be invested. Second is liquidity, maintaining sufficient cash to satisfy reasonably anticipated, continuing operational requirements. The third and final priority is maximizing investment return, consistent with the higher priorities of safety and liquidity of principal.”
Eichenberg’s last day as State Treasurer is December 31, 2022.
For more information visit https://nmsto.gov/investment-division/.