DiNapoli: State pension fund valued at all-time high of $160.4 billion

Returned 10.38 percent on investments in FY 2013

New York State Comptroller Thomas P. DiNapoli announced today that the New York State Common Retirement Fund was valued at an estimated $160.4 billion and earned an estimated 10.38 percent rate of return on its investments for the fiscal year ending March 31.

"The New York State Common Retirement Fund has reached a milestone," DiNapoli said. "The fund ended the fiscal year at an estimated $160.4 billion, an all-time high, and it remains well-positioned for growth as the financial markets continue to gain strength. Fiscal year 2014-15 will be the final year that employer contribution rates will reflect the market loss of 2008-09."

Returns for the fund's asset classes were:

• Domestic equities returned 14.48 percent (at 36 percent of the fund's total investments)
• Fixed income returned 4.87 percent (28.2 percent)
• Non-U.S. equities returned 9.47 percent (14.1 percent)
• Private equity returned 11.75 percent (8.6 percent)
• Real estate returned 11.08 percent (6.8 percent)
• Global equities returned 13.88 percent (2.9 percent)
• Absolute return strategies returned 7.95 percent (3.2 percent)
• Opportunistic alternatives returned 7.89 percent (0.2 percent)

The fund is the third-largest public pension fund in the country and remains one of the nation's best-managed and best-funded pension plans. In February, Funston Advisory Services completed an independent review of the fund that found it is well-run, operates with an industry-leading level of transparency and invests effectively on behalf of its members.

The New York State and Local Retirement System provides benefits to more than 1 million state and local government employees, retirees and beneficiaries. Over the past 20 years, 82 percent of the cost of benefits have been funded from investment returns.