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September 14, 2011

 

NYS Common Retirement Fund Releases First Quarter Results

The New York State Common Retirement Fund's (Fund) overall rate of return for the first quarter ending June 30, 2011 was 1.80 percent, according to figures released today by New York State Comptroller Thomas P. DiNapoli. The Fund's estimated value at the end of the first quarter of its fiscal year stood at $146.98 billion, an estimated increase of $480 million over its value at the end of the fiscal year on March 31, 2011.

"The financial markets have shown increased volatility as the economy struggles to build momentum," DiNapoli said. "These are challenging times as we continue to grapple with sluggish job growth and concerns over European sovereign debt. However, the Fund continues to be among the strongest in the nation and we have a diversified investment strategy and long-term perspective to help manage these market conditions."

In 2009, DiNapoli initiated quarterly performance reporting by the Fund, which had previously disclosed its results annually. This practice is part of DiNapoli's efforts to increase transparency and accountability regarding Fund management and performance.



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