State Pension Fund Remains Strong
December 5, 2011
Around Town – By Neal Tepel
The New York State Common Retirement Fund (Fund) was valued at $133.8 billion after Fund investments posted an estimated negative 7.48 percent rate of return through September 30, 2011, the end of the Fund’s second fiscal quarter, according to New York State Comptroller Thomas P. DiNapoli.
“Like almost all investors, the Fund has been affected by the sluggish economy and increased volatility in the markets,” DiNapoli said. “The Fund remains one of the strongest in the U.S. and our diversified portfolio will keep it secure and poised for strong returns in the coming months.”
The Fund has 36.1 percent of its assets invested in publicly traded domestic equities and 15.1 percent in international equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (28.6 percent), private equity (10.8 percent), real estate (6.5 percent), absolute return (2.5 percent) and opportunistic strategies (0.4 percent).
DiNapoli initiated quarterly performance reporting by the Fund as part of his on-going efforts to increase accountability and transparency. The Fund, which exists to provide benefits to more than one million retirees, beneficiaries and active employees, will close its current fiscal year on March 31, 2012.