The New York State Common Retirement Fund generated an overall return of 3.51 percent for the three-month period ending Sept. 30, 2016, the second quarter of the state’s fiscal year 2016-2017. That’s according to a news release from New York State Comptroller Thomas P. DiNapoli. The fund ended the period with an estimated value of […]
The New York State Common Retirement Fund generated an overall return of 3.51 percent for the three-month period ending Sept. 30, 2016, the second quarter of the state’s fiscal year 2016-2017.
That’s according to a news release from New York State Comptroller Thomas P. DiNapoli. The fund ended the period with an estimated value of $184.5 billion.
“Investments across several asset classes had positive returns during a solid quarter,” DiNapoli said in the release. “Our long-term perspective and our diversified portfolio continue to cushion the fund against volatility and help ensure sustainable returns that provide retirement security for our 1.1 million members, retirees and their beneficiaries.”
In comparison, the S&P 500 index generated a total return of 3.31 percent in the same quarter, according to data from Morningstar.
The Common Retirement Fund’s estimated value reflects benefits paid out during the quarter. The fund ended its first fiscal quarter on June 30, 2016, with an overall return of 2 percent and an estimated value of $181 billion, the comptroller’s release stated. The S&P 500 produced a 1.9 percent return in that same quarter, according to Morningstar.
As of Sept. 30, the Common Retirement Fund had 38 percent of its assets invested in publicly traded U.S. stocks and 16.3 percent in international stocks. The remaining fund assets by allocation are invested in cash, bonds, and mortgages (26.7 percent), private equity (7.6 percent), real estate (6.9 percent), absolute-return strategies (3.2 percent), and opportunistic alternatives and real assets (1.3 percent), according to DiNapoli’s office.
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