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Pension Funds

New York State Common returns 11.35% in fiscal year

New York State Comptroller Thomas DiNapoli is the fund’s sole trustee.

The New York State Common Retirement Fund, Albany, posted an estimated 11.35% net return on investments for the fiscal year ended March 31, according to a news release Thursday from Thomas DiNapoli, the state comptroller and sole trustee of the fund.

The pension fund's assets rose 7.5% in the year to $206.9 billion as of March 31. Its assumed rate of return is 7%.

The estimated return — pending an audit in the next few months — reflects "help from strong markets through most of the fiscal year, which ended with a volatile fourth quarter," Mr. DiNapoli said in a news release.

Audited figures for the fiscal year ended March 31, 2017, showed a net return of 11.4% and assets of $192.4 billion.

According to the comptroller's website, the pension fund's five-year annualized return was 8.35%. For 10 years, it was 5.59%; and for 20 years, 7.66%.

The best-performing asset classes for the year were private equity, 18.70%; global equity, 17.49%; non-U.S. equities, 17.02%; and domestic equities, 13.94%.

Meanwhile, core fixed income returned 2.05%; cash, 1.71%; and Treasury inflation-protected securities, 1.25%.

Domestic equity had the largest allocation as of March 31 at 36.6%, followed by core fixed income at 16.8% and non-U.S. equities at 15.2%. The rest of the asset allocation was 8.3% private equity, 6.7% real estate, 5.3% global equities, 3.9% TIPS, 2.7% absolute-return strategies, 1.7% non-core fixed income, 1.2% opportunistic alternatives, 0.9% cash and 0.7% real assets.