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November 19, 2012


DiNapoli: NYS Common Retirement Fund Posts Positive Gain In Second Quarter Amid Slow Recovery

The New York State Common Retirement Fund's (Fund) estimated rate of return for the second quarter ending September 30, 2012 was 4.07 percent, increasing the Fund's value to $150.1 billion, according to New York State Comptroller Thomas P. DiNapoli.

"The New York State Common Retirement Fund produced reasonable gains this quarter amid a slow economy and uncertainty in the market about the elections," DiNapoli said. "As one of the largest institutional investors in the world, we urge the President and Congress to resolve the massive economic decisions they face and avoid a standoff on the fiscal cliff issue that could damage our economy. While the diversification of our assets will help the Fund weather economic storms, a swift compromise in Washington could help 2013 be a more prosperous year for investors like us."

The Fund has 37.1 percent of its assets invested in publicly traded domestic equities and 13.7 percent in international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (31.1 percent), private equity (9.4 percent), real estate (6.4 percent), absolute return strategy (2.00 percent) and opportunistic strategy alternatives (0.3 percent).

In 2009, 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, 2013.

The Fund, the third-largest public pension fund in the nation, remains among the best funded plans in the country, according to the Pew Center on the States.

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