NYS Common Retirement Fund Announces Third Quarter Results
Estimated Value Reaches $209.1 Billion
The New York State Common Retirement Fund's (Fund) overall return in the third quarter of the state fiscal year 2017-2018 was 4.12 percent for the three-month period ending Dec. 31, 2017, with an estimated value of $209.1 billion, according to New York State Comptroller Thomas P. DiNapoli.
"A strong equities market continued to provide solid returns on investments during the last three months of 2017," DiNapoli said. "Notwithstanding recent volatility, we have welcomed the stock market's nearly decade-long rise. Our foremost goal will always be to find stable, long-term returns that will continue to provide retirement security for the pension fund's more than one million members, retirees and beneficiaries."
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 $192.4 billion.
As of Dec. 31, 2017, the Fund had 40 percent of its assets invested in publicly traded domestic equities and 18.1 percent in international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (23.7 percent), private equity (7.6 percent), real estate (6.5 percent), absolute return strategies (2.6 percent) and opportunistic alternatives and real assets (1.5 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.
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