New Mexico's permanent funds have grown about $1.7 billion during the past year with strong investment gains.
The State Investment Council says the Land Grant Permanent Fund had a return of about 13.2 percent in the year ending June 30, and had assets valued at more than $12 billion.
The council said the fund's performance placed it among the top third for similar large public funds.
The Severance Tax Permanent Fund had a return of 12.1 percent, but it includes economic development investments that typically lower the overall performance. The fund was valued at more than $4 billion at the end of June.
Earning from the state's investment funds provide almost 11 percent of the yearly revenue that finances public education and other government programs.
Copyright 2013 The Associated Press.