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Pension Funds

New York State Common gains 2.9% in first quarter of fiscal year

Thomas DiNapoli
Thomas P. DiNapoli

The New York State Common Retirement Fund, Albany, posted a 2.9% return for the three months ended June 30, the first quarter of the pension's fund's current fiscal year, said Thomas P. DiNapoli, the state comptroller and sole trustee of the pension fund, in a news release Wednesday.

"Strong domestic stock market returns continued to buoy our investments through the opening months of the state fiscal year," Mr. DiNapoli said in the release. "As a long-term investor, the fund's performance is best measured by its success over a period of years if not decades, but we always welcome a strong quarter."

The estimated asset value as of June 30 was $197.1 billion, compared to $192.1 billion as of March 31. The pension fund returned 11.42% for the fiscal year ended March 31.The fund's asset allocation as of June 30 was 38.7% domestic equities; 25.7% cash, bonds and mortgages; 17.3% international equities; 7.7% private equity; 6.5% real estate; 2.8% absolute-return strategies; and 1.3% opportunistic alternatives and real assets.

The news release didn't discuss the performance of specific asset classes. Matthew Sweeney, a spokesman for Mr. DiNapoli, didn't provide additional information.