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Rio Rancho permanent fund posts 6.55% Q2 return; advisers cite $14.76M market value and IPS updates
Summary
Advisers to the Rio Rancho Permanent Fund reported a 6.55% return for the second quarter, a fiscal-year gain of 11.7%, and a market value of $14,763,038 as of June 30; officials noted recent investment-policy updates and the addition of real-asset allocations.
Chad Stapleton, senior adviser at PFM Asset Management, told the Rio Rancho Permanent Fund Board the fund’s total market value was $14,763,038 as of June 30 and that the portfolio returned 6.55% in the second quarter. He said the fiscal-year return was 11.7%, roughly $1.5 million in dollar terms, and the fund’s since-inception annualized return is about 13.3%, in line with its benchmark.
Stapleton said the board’s approved investment-policy changes from an asset-allocation review in February and April are now reflected in the portfolio, including the addition…
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