The New York State Common Retirement Fund’s (Fund) estimated return in the second quarter of the State Fiscal Year (SFY) 2020-21 was 6.24 percent for the three-month period ending Sept. 30, 2020, and ended the quarter with an estimated value of $226.4 billion, according to New York State Comptroller Thomas P. DiNapoli.
“A second straight quarter of strong investment returns raised the pension fund’s estimated value to a new high,” DiNapoli said. “Our pension fund is strong and well-diversified, but gains are clearly fragile in this volatile financial climate. Wall Street continued to exceed expectations in the quarter, but Main Street is suffering. Our economy needs additional federal stimulus and relief and hurting families need safety nets.”
The Fund's estimated value reflects benefits of $3.39 billion paid out during the quarter. Its audited value as of fiscal year end March 31, 2020, was $194.3 billion.
As of Sept. 30, 2020, the Fund had 53.4 percent of its assets invested in publicly traded equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (22.8 percent), private equity (10.0 percent), real estate and real assets (8.5 percent) and credit, absolute return strategies and opportunistic alternatives (5.3 percent).
DiNapoli initiated quarterly investment performance reporting in 2009 as part of his ongoing efforts to increase accountability and transparency. Quarterly rates of return provide a snapshot of performance over three months and reflect a fraction of the Fund’s annual investment return.
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.
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