New York City Retirement Systems returned “more than 20%” on its investments in the year ended June 30, according to a news release from City Comptroller John C. Liu, who is investment adviser, custodian and trustee for the five funds in the system.
The investment returns were based on preliminary numbers. Michael Loughran, a spokesman for Mr. Liu, said in an e-mail that the “more than 20%” figure is the only one available until the comptroller issues audited numbers. Those will be released “in the coming weeks,” the news release said.
The investment gains were due to “stock and bond market recoveries, as well as new actions taken by the comptroller's office and the trustees of the (five) pension boards,” the release said.
The assets of the city's five plans totaled about $119 billion as of June 30, according to the release. The most recent official asset figure, posted on the comptroller's website, is $122.4 billion as of April 30.
For the year ended June 30, 2010, the system reported aggregate pension assets of $97.8 billion with an investment return of 14% during that fiscal year, according to the release.