New York State Common Retirement Fund returned an estimated 10.38% in the fiscal year ended March 31 to bring assets to a record $160.4 billion, confirmed Eric Sumberg, spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the pension fund.
Domestic equities posted the best returns of all asset classes, with 14.48%, followed by global equities, 13.88%; and private equity, 11.75%.
Other asset classes' returns were real estate, 11.08%; non-U.S. equities, 9.47%; absolute-return strategies, 7.95%; opportunistic alternatives, 7.89%; and fixed income, 4.87%.
“The New York State Common Retirement Fund has reached a milestone,” Mr. DiNapoli said in a news release. “The fund ended the fiscal year at an estimated $160.4 billion, an all-time high, and it remains well-positioned for growth as the financial markets continue to gain strength. Fiscal year 2014-2015 will be the final year that employer contribution rates will reflect the market loss of 2008-2009.”
The retirement fund's actual allocation as of March 31 was 36% domestic equities, 28.2% fixed income, 14.1% non-U.S. equities, 8.6% private equity, 6.8% real estate, 3.2% absolute-return strategies, 2.9% global equities and 0.2% opportunistic alternatives.