New Mexico Treasurer Seeks Investment Advisor
May 19, 2008
The State of New Mexico State Treasurer's Office (STO) has issued an RFP for an investment management advisor to assist with a roughly $5 billion portfolio.
Chief investment officer Joelle Mevi explained that the STO has worked with PFM Group for the past two and a half years. Initially, PFM advised the investment staff on benchmarks and investment policies. PFM is allowed to rebid for the account.
Mevi noted that going forward, the advisor would perform reviews and assist with investing decisions and the development of a three-year term portfolio for local government bond proceeds. Due to changing circumstances in investing that have occurred over the last six months the investment advisor will serve as a much-needed supplement to the STO's small investment staff, she said.
The STO plans to hire a firm for a one-year term, with an optional one year renewal.
The deadline for proposal submissions is June 6. Finalist selections are expected for June 18, with a final selection expected by July 1. The RFP is available at http://www.stonm.org
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