New York State Common Retirement Fund, Albany, returned 25.9% for the fiscal year ended March 31, increasing the fund’s value to $132.6 billion, New York State Comptroller Thomas P. DiNapoli announced Tuesday.
“This is a one-year performance; it renews my confidence in our asset allocation and long-term strategy,” Mr. DiNapoli, the fund’s sole trustee, said during a teleconference.
The returns were the fund’s third best for a fiscal year in the past 20 years; its investments returned 28.8% in 2004 and 30.4% in 1998, according to a news release.
Mr. DiNapoli attributed strong performance to domestic and international public equities, which posted one-year returns as of March 31 of 51.7% and 51.75%, respectively.
The fund’s absolute-return portfolio returned 14.94% for the fiscal year ended March 31; private equity gained 11.6%; core fixed income earned 7.4%; TIPS, 5%; and real estate, -27.8%.
