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Fund investments up at $446.8M
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Posted on Apr 26 2006
The NMI Retirement Fund’s total stock market investments are valued at $446.8 million as of March 31 this year—a nearly $5-million growth in three months.
This is about a 13-percent increase compared with the same period last year.
Fund administrator Karl T. Reyes said that, from $442 million in January this year, the value rose to $446.8 million by the end of the first quarter of 2006.
Investments value reported during the first quarter of 2005 was at the $394 million level.
“We’re seeing growth in our investments. We’re certainly happy about it,” said Reyes.
He said the good performance is due to diversified asset allocation and “effective strategies” employed by its money managers.
The Fund has 11 money managers including Atalanta, Sabre, S&P 500 Idex Fund, Stratem, Renaissance, Nicholas-Applegate, Gabelli, EAFE ETF, Templeton, Provident, and IRM. They regularly report to Merrill Lynch, the Fund’s chief investment consultant.
Among the managers with the largest funds are Atalanta, which manages $75 million, representing 17 percent of the assets; Templeton, with $63 million; and Renaissance, with $59 million.
Gabelli, which has representatives currently on island, manages over $30 million.
The Fund’s large capital equities represent 50 percent of its investment, while small cap represents 13 percent. International equities and fixed income represent 13 percent each.
TIPS or Treasury Inflation-Protected Securities reflects 5 percent of the total investment while cash asset is 4 percent.
