Manager Could Be Out at New Mexico PERA

August 11, 2008

The New Mexico Public Employees' Retirement Association (NMPERA) recently discussed stripping Smith Breeden Associates of a $764 million domestic core fixed-income mandate that it manages for the plan. According to the agenda from the Santa Fe plan's July 31 meeting, it was recommended that the funds from the terminated manager be allocated to Western Asset Management and Franklin Templeton who each manage core-plus mandates for the system.

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