July 31, 2009
DiNapoli Releases CRF Quarterly Performance Data
New York State Common Retirement Fund Grows to $116.5 Billion
The market value of the New York State Common Retirement Fund (Fund) increased to approximately $116.5 billion after Fund investments posted a positive 7.7 percent rate of return for the quarter ended June 30, 2009, the first quarter in the Fund’s fiscal year, according to New York State Comptroller Thomas P. DiNapoli.
“We’re seeing some encouraging signs in the public markets, but we’re not out of the woods yet,” DiNapoli said. “It is good to see positive growth in the Fund after an especially challenging year for all investors. We are cautiously optimistic that the markets will continue to strengthen in what appears to be an improving economy. Fortunately, our long-term investment strategies have us better prepared than most to take advantage of a market recovery.”
DiNapoli initiated quarterly performance reporting by the Fund for the first time. This practice is the latest step in DiNapoli’s ongoing efforts to increase transparency and accountability regarding Fund management. The Fund, which exists to provide benefits to more than one million retirees, beneficiaries, and active employees, will close its current fiscal year March 31, 2010.
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