ALBANY — The New York State Common Retirement Fund produced an estimated return of 6.18 percent in the third quarter of the current fiscal year — the three-month period ending Dec. 31, 2023. That’s according to New York State Comptroller Thomas DiNapoli, who also noted that the fund ended the quarter with an estimated value […]
ALBANY — The New York State Common Retirement Fund produced an estimated return of 6.18 percent in the third quarter of the current fiscal year — the three-month period ending Dec. 31, 2023. That’s according to New York State Comptroller Thomas DiNapoli, who also noted that the fund ended the quarter with an estimated value of $259.9 billion. “The markets have seen an improvement over the past quarter, but some volatility remains,” DiNapoli said in a release.
The fund’s value reflects retirement and death benefits of $4.2 billion paid out during the latest quarter. Its audited value was $248.5 billion as of March 31, 2023, the end of last state fiscal year. As of Dec. 31, the fund had 41.84 percent of its assets invested in publicly traded equities. The remaining fund assets by allocation are invested in cash, bonds, and mortgages (22.62 percent), private equity (14.75 percent), real estate and real assets (13.30 percent) and credit, absolute return strategies, and opportunistic alternatives (7.49 percent). The fund’s long-term expected rate of return is 5.9 percent, the comptroller said. The New York State Common Retirement Fund is one of the largest public pension funds in the U.S. It holds and invests the assets of the New York State and Local Retirement System on behalf of more than 1 million state-government and local-government employees and retirees and their beneficiaries.