The New York State Common Retirement Fund’s (Fund) estimated return in the second quarter of the State Fiscal Year 2018-2019 was 3.47 percent for the three-month period ending September 30, 2018, with an estimated value of $213.2 billion, according to New York State Comptroller Thomas P. DiNapoli.
"The Fund had a strong first half year, assisted by a surging stock market," DiNapoli said. "However, we remain focused on recent volatility that tempers our expectations for future returns. Fortunately, the state pension fund is prudently diversified to smooth out the stock market rollercoaster, and maximize sustainable investment returns over the long-term."
The Fund's estimated value reflects benefits of $5.6 billion paid out during the first half of the State Fiscal Year 2018-2019. The Fund’s audited value as of the March 31, 2018 close of its fiscal year was $207.4 billion. Its estimated value was $209.2 billion as of June 30, 2018.
As of September 30, 2018, the Fund had 41.4 percent of its assets invested in publicly traded domestic equities and 15.6 percent in international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (23.0 percent), private equity (8.4 percent), real estate and real assets (7.6 percent) and absolute return strategies and opportunistic alternatives (4.0 percent).
DiNapoli initiated quarterly investment performance reporting in 2009 as part of his on-going efforts to increase accountability and transparency. Quarterly rates of return provide a snapshot of performance over three months and reflect a fraction of the annual investment return.
About the New York State Common Retirement Fund
The New York State Common Retirement Fund (Fund) is the third largest public pension plan in the nation with an audited value of $207.4 billion in assets (as of March 31, 2018) held in trust for the retirement security of the more than one million members of the New York State and Local Retirement Systems (NYSLRS). As a long-term investor, the Fund has an investment approach which capitalizes on market opportunities and weathers market ups and downs. The Fund is widely regarded as one of the nation's best-managed and best-funded pension plans.
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