The State Investment Council oversees and manages more than $43 billion in permanent, endowment, and reserve funds for the state of New Mexico. These investments will deliver almost $1.8 billion to our state in fiscal year 2024, helping to pay for New Mexico public schools, universities, and other government services. The indirect, average benefit to New Mexico taxpayers is $2,250 per household and growing. The state’s permanent—or sovereign wealth funds—originate primarily from royalties and taxes from extractive industries like oil and gas production. As those industries gradually transition toward renewable resources in the coming years, declining oil revenue will be supplanted in part by the investment earnings generated by New Mexico’s permanent endowments. New Mexico’s permanent funds are the third largest of their kind in the United States, and among the top 40 such funds globally.
