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February 15, 2012

 

DiNapoli: Pension Fund Gains in Third Quarter of FY 2011

The New York State Common Retirement Fund (Fund) was valued at $140.3 billion after Fund investments posted an estimated 4.83 percent rate of return for the third quarter ending December 31, 2011, according to New York State Comptroller Thomas P. DiNapoli.

"The rally in the equities markets has helped the Fund maintain its strong position," DiNapoli said. "However, instability resulting from the European sovereign debt crisis and the slow pace of the economic recovery remain areas of concern. The Fund is investing for the long-term and I remain confident that our diversified investment strategy will help to keep us on track as we head toward the end of our fiscal year."

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.

 

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