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

by jmaloni

Press release

Mon, May 13th 2013 05:25 pm

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.

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