New York State Common Retirement Fund, Albany, achieved a return of 17.8% for the fiscal year ended March 31. The fund achieved an annualized three-year rate of return of 18.7% and five-year return of 17.7%.
The results were announced by New York State Comptroller H. Carl McCall, the sole trustee of the $127 billion fund.
Mr. McCall proposed the enactment of a permanent cost-of-living adjustment for public employee retirees, and said the funds strong results make it affordable now.
The funds asset allocation consists of 50% domestic equities, 27% fixed income, 11% international equities, 5% private equity, 2% emerging market equities, 2% equity real estate, 1% global equities and 2% short-term investments.