The New York State Common Retirement Fund's (Fund) overall return in the first quarter of the state fiscal year 2017-2018 was 2.9 percent for the period ending June 30, 2017, with an estimated value of $197.1 billion, according to New York State Comptroller Thomas P. DiNapoli.
"Strong domestic stock market returns continued to buoy our investments through the opening months of the state fiscal year," DiNapoli said. "As a long term investor, the fund's performance is best measured by its success over a period of years if not decades, but we always welcome a strong quarter."
The Fund's estimated value reflects benefits paid out during the quarter. The Fund's audited value as of the March 31, 2017 end of the state fiscal year was revised upward to $192.1 billion from an initial estimate of $192 billion.
As of June 30, 2017, the Fund had 38.7 percent of its assets invested in publicly traded domestic equities and 17.3 percent in international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (25.7 percent), private equity (7.7 percent), real estate (6.5 percent), absolute return strategies (2.8 percent) and opportunistic alternatives and real assets (1.3 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 consistently been ranked as one of the best managed and best funded plans in the nation. The Fund's fiscal year ends March 31, 2018.