February 13, 2015, Contact: Press Office (518) 474-4015
NYS Common Retirement Fund Announces Third Quarter Results
The New York State Common Retirement Fund’s (Fund) overall return in the third quarter of the state fiscal year 2015 was 1.91 percent for the three-month period ending December 31, 2014, bringing the Fund’s estimated value to $181.7 billion, according to New York State Comptroller Thomas P. DiNapoli.
“Prudent management has nurtured the Fund’s growth despite market volatility,” DiNapoli said. “We continue to seek out diverse opportunities that enable us to maximize stable, long-term investment returns that ensure a secure retirement.”
The Fund's estimated value reflects benefits paid out during the quarter. The Fund’s value was $176.8 billion as of the end of the state fiscal year on March 31, 2014.
The Fund has 39.5 percent of its assets invested in publicly traded domestic equities and 13.2 percent in international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (29.1 percent), private equity (7.6 percent), real estate (6.4 percent), absolute return (3.4 percent) and opportunistic alternatives and real assets (0.8 percent).
DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to increase accountability and transparency.
About the New York State Common Retirement Fund
The New York State Common Retirement Fund is the third largest public pension fund in the United States. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries. The Fund has consistently been ranked as one of the best managed and best funded plans in the nation. Over the past 20 years, 82 percent of the cost of benefit payments has been funded by investment returns. The Fund’s fiscal year ends March 31, 2015.