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DEFINED BENEFIT

New York State Common returns 11.42% for fiscal year

Thomas DiNapoli
Thomas P. DiNapoli

New York State Common Retirement Fund, Albany, returned 11.42% for the fiscal year ended March 31, Thomas P. DiNapoli, the state comptroller and sole trustee of the $192 billion pension fund, announced Monday.

The top-performing asset class for the year was domestic equities, which returned 17.73%, followed by global equities at 17.04% and international equities, 15.15%.

“Strong returns over the fiscal year, particularly in the fourth quarter, were driven by rising public equity markets,” Mr. DiNapoli said in the news release. “New York state’s pension fund is at a record value based on prudent long-term asset allocation. We continue to manage one of best-funded, best-performing pension plans in the nation, and that’s great news for the more than 1 million men and women who participate in it, as well as for New York taxpayers.”

Other strong performers for the fiscal year were real assets, which returned 11.63%; non-core fixed income, which returned 11.43%; real estate, 10.68%; absolute return strategies, 7.24%; and private equity, 7.02%.

The rest of the asset classes, none of which posted a negative return for the fiscal year, were opportunistic alternatives, which returned 4.76%; core fixed income, 2.49%; cash, 1.58%; and Treasury inflation-protected securities, 1.31%.

As of March 31, the actual allocation was 36.8% domestic equities, 18.1% core fixed income, 14.3% international equities, 7.7% private equity, 6.6% real estate, 4.6% global equities, 4.3% TIPS, 2.9% absolute-return strategies, 1.8% cash, 1.7% non-core fixed income, 1% opportunistic alternatives and 0.2% real assets.