ALBANY — The New York State Common Retirement Fund generated a return of 1.38 percent for the state fiscal first quarter ending June 30, 2024. That’s according to New York State Comptroller Thomas DiNapoli, who also reported that the fund closed the quarter with an estimated value of $267.7 billion, the same value as three […]
ALBANY — The New York State Common Retirement Fund generated a return of 1.38 percent for the state fiscal first quarter ending June 30, 2024. That’s according to New York State Comptroller Thomas DiNapoli, who also reported that the fund closed the quarter with an estimated value of $267.7 billion, the same value as three months earlier. “Stock market volatility underlines the continued economic uncertainties faced by investors,” DiNapoli said in an Aug. 23 announcement. “Fortunately, our diverse portfolio is built on long-term sustainable investments that can weather such ups and downs and is one of the reasons we are one of the nation’s strongest public pension funds.” The fund’s value reflects retirement and death benefits of $4.2 billion paid out during the fiscal quarter. As of June 30, the Common Retirement Fund had 42.32 percent of its assets invested in publicly traded equities. The remaining fund assets by allocation are invested in cash, bonds, and mortgages (22.07 percent), private equity (14.71 percent), real estate and real assets (13.14 percent) and credit, absolute return strategies, and opportunistic alternatives (7.76 percent). The state pension fund’s long-term expected rate of return is 5.9 percent, according to DiNapoli’s office. 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.