New Mexico Public Employees’ Retirement Association’s investment committee may propose to move a $54 million mandate to BlackRock, Pensions & Investments reports. The mandate is being redeemed from Wellington Real Estate Investment Trust due to changes in portfolio managers.
The U.S. asset manger, which already manages assets from the association, is likely to get the new mandate that will be a passive REIT strategy. The $11.9 billion Santa Fe-based association’s committee may also recommend removing Western Asset Management from its watchlist.
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