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November 16, 2009

DiNapoli Releases CRF Mid-Year Performance Data

First Half Sees Common Retirement Fund Grow to $126 Billion from $109.9 Billion

The market value of the New York State Common Retirement Fund (Fund) increased to approximately $126 billion after Fund investments posted a positive 18.3 percent rate of return through September 30, 2009, which ended the second quarter in the Fund’s fiscal year, according to New York State Comptroller Thomas P. DiNapoli.

“Strong performance in the domestic and international stock markets is driving Fund performance,” DiNapoli said. “The Fund is secure and well positioned to benefit in these markets. Our commitment to long-term, value investing will continue to protect taxpayers and the one million Fund members.”

DiNapoli said the strength of the stock markets have boosted the Fund, which has 37.2 percent of its assets invested in publicly traded domestic equities and 16.4 percent invested in international equities. DiNapoli said that about 30.3 percent of Fund assets are invested in cash and bonds, and that private equity, real estate, and absolute return strategies account for 8.9 percent, 4.9 percent, and 2.3 percent of Fund assets by allocation, respectively.

DiNapoli earlier this year initiated quarterly performance reporting by the Fund, which had previously disclosed its results annually. This practice is part of DiNapoli’s reform 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.

Click here for a chart of the Fund’s asset allocation.


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