The New York State Common Retirement Fund, Albany, gained an estimated $7.8 billion, or 5.9%, for the quarter ended Dec. 31 to $140.6 billion, according to a news release Tuesday from Thomas P. DiNapoli, the state's comptroller and sole trustee of the fund.
“The fund benefited from the rally in the equities market during the quarter,” Mr. DiNapoli said in the release, describing performance for the third quarter of the fund's fiscal year. “Our diversified investment strategy and long-term perspective have the fund well positioned to generate consistent, long-term returns.”
The news release also said the fund's overall rate of return for the three months ended Dec. 31 was 6.01%.
The release provided no additional details. Olayinka Fadahunsi, a spokesman for the comptroller, said further details were not available. In an e-mail, Mr. Fadahunsi added that the fund's quarterly results are “estimated and unaudited until the comprehensive annual financial report is released at the end of the fiscal year.” The fiscal year ends March 31.