PERA delegates all manager selection to internal staff while board sets risk
Dominic Garcia · Dominic Garcia – Risk-based Investing at New Mexico PERA (Capital Allocators, EP.187) · Apr 5, 2021 · at 36:05
Dominic Garcia, Chief Investment Officer of New Mexico PERA, explains PERA's governance framework to Ted Seides.
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“So what our governance looks like today is our board makes three decisions. They set our overall risk tolerance, they approve our risk budget as what I've been talking about, and they set benchmarks. Everything else gets delegated down to staff. So the manager selection process is delegated entirely down to me and our staff.”
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