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November 9, 2010


DiNapoli Releases CRF Estimated Mid-Year Performance Data

The preliminary market value of the New York State Common Retirement Fund (Fund) increased to approximately $132.8 billion after Fund investments posted an estimated rate of return of positive 8.01 percent for the fiscal year’s second quarter ending September 30, 2010, according to New York State Comptroller Thomas P. DiNapoli. The Fund releases its audited returns as of March 31 each year.

“Last year’s record returns are holding,” DiNapoli said.  “Over the past few weeks the market has shown strength, however, there’s still volatility. The Fund remains among the strongest in the nation. Our commitment to long-term, value investing through our diversified portfolio has kept the Fund secure and well positioned to benefit from the markets’ continued recovery.”  

DiNapoli said the strength of the stock markets boosted the Fund, which has 38.8 percent of its assets invested in publicly traded domestic equities and 16.3 percent invested in international equities. DiNapoli said that about 27.2 percent of Fund assets are invested in cash and bonds, and that private equity, real estate, absolute return and opportunistic strategies account for 9.9 percent, 4.5 percent, 2.8 percent and 0.5 percent of Fund assets by allocation, respectively.

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 March 31, 2011.



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