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NMIRF ranked at No. 1 percentile
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Posted on Nov 09 2005
For the first time after many years, the NMI Retirement Fund is ranked among the top performing Retirement Funds in its category.
“We’re in No. 1 percentile in terms of returns,” said Fund board chair Joseph Reyes during the Fund’s money managers’ meeting at Aqua Resort Club.
As of end of the third quarter, the Fund’s return of investment was up at 5.1 percent. For its year-to-date ROI ending Sept. 30, 2005, the figure is 8.4 percent.
Fund investment director Mark Aguon said total investments in the stock market reached $421.3 million as of Sept. 30. Total investments reportedly reached $445.3 million last month. The Fund’s total assets, which include both local and international investments, total $534 million.
Reyes credited the improved standing to good market performance and sound strategies of the agency’s money managers.
“The market has been performing very, very well. It’s also due to the money managers, how they handle our portfolio, where they invest,” said Reyes.
He said none of its 10 money managers lost in the market this year. He took particular note of the Fund’s new money manager, Nicholas-Applegate, which brought in a total of $9 million in assets in just one year.
He said that the Fund’s investments have gone up from $278 million in 2002 to over $400 million this year.
Merrill Lynch, the Fund’s overall investment adviser, said earlier that the strong market performance was due to investment strategy, asset allocation, as well as overall market conditions in the United States.
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 reflect 5 percent of total investments, while cash assets are at 4 percent.
The Fund’s investment is handled by 10 managers that regularly report to Merrill Lynch. These include Atalanta, Sabre, S&P 500 Idex Fund, Stratem, Renaissance, Nicholas-Applegate, Gabelli, EAFE ETF, Templeton, Provident, and IRM.
