NYS Common Retirement Fund Announces Second Quarter Results
The New York State Common Retirement Fund’s (Fund) overall return in the second quarter of the Fund’s 2015-2016 fiscal year was -4.13 percent for the three-month period ending Sept. 30, 2015, according to New York State Comptroller Thomas P. DiNapoli. The Fund had an estimated value of $173.5 billion at the close of its second quarter.
“Volatility in the late summer continued to seriously challenge investors
across multiple markets,” DiNapoli said. “Fortunately, New
York’s pension fund is built on a conservative, long-term investment
strategy to weather such ups and downs and provide retirement security
for generations to come. While we’ve seen some recovery in the third
quarter, there is no question that this is a tough year for investors.”
The Fund's estimated value reflects benefits paid out during the quarter.
As of Sept. 30, 2015, the Fund had approximately 37.1 percent of its assets invested in publicly traded domestic equities and 15.1 percent in international public equities. The remaining Fund assets by allocation are invested in cash (3.4 percent), Treasury Inflation Protected Securities (TIPS) (4.9 percent), bonds and mortgages (20.0 percent), private equity (7.9 percent), real estate (6.8 percent), absolute return strategies (3.7 percent) and opportunistic alternatives and real assets (1.1 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. Its fiscal year ends March 31, 2016.