New York State Common Retirement Fund, Albany, recorded a return on investment of 0.52% for the three months ended June 30, the first quarter of the pension system's fiscal year.
“The first quarter presented a challenging investment climate,” said Thomas DiNapoli, the state comptroller and sole trustee of the fund.
The fund reported estimated assets of $182.5 billion for the quarter, down 1% from the audited $184.5 billion assets for the fiscal year ended March 31. The pension fund's assumed annual rate of return is 7.5%.
Domestic publicly traded equities represented the largest allocation among pension fund assets, 38.5%. Other allocations are bonds and mortgages, 21.7%; international publicly traded equities, 15%; private equity, 7.5%; real estate, 6.4%; Treasury inflation-protected securities, 4.8%; absolute-return strategies, 3.6%; cash, 1.5%; and opportunistic alternatives and real assets, 1%.
Matthew Sweeney, a spokesman for Mr. DiNapoli, did not provide additional information about the fund's performance.