The New York State Common Retirement Fund’s (Fund) value grew to an estimated $180.7 billion in the first quarter ending June 30, 2014, according to New York State Comptroller Thomas P. DiNapoli. The Fund had ended the state’s Fiscal Year 2014 on March 31 with a value of $176.8 billion. The net growth in the value of the fund reflects earnings over the quarter, offset by benefit payments.
“The New York State Common Retirement Fund enjoyed a robust first quarter based on solid performance in domestic and global equities markets," DiNapoli said. “Our goal is always to grow the Fund’s long-term value in order to protect and preserve the retirement security of New York’s public workforce, but our investment staff also continues to move quickly to seize market opportunities.”
The Fund achieved an overall return on its investments of 3.58 percent during the strong three-month period.
As of June 30, the Fund had 38.5 percent of its assets invested in publicly traded domestic equities and 16.9 percent in non-U.S. and global equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (26.6 percent), private equity (7.8 percent), real estate (6.8 percent), absolute return strategy (3.1 percent) and opportunistic strategy alternatives (0.3 percent).
DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to increase accountability and transparency.
About the New York State Common Retirement Fund
The New York State Common Retirement Fund is the third largest public pension fund in the United States. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries. The Fund has a diversified portfolio of public and private equities, fixed income, real estate and alternative instruments.