New York State Common Retirement Fund, Albany, posted an estimated investment return of 0.29% for the three months ended June 30, confirmed Eric Sumberg, a spokesman for Thomas DiNapoli, the New York State comptroller and sole trustee of the fund.
The results for the first quarter of the pension fund's current fiscal year are unaudited, Mr. Sumberg said in an interview. The pension fund had an estimated $158.7 billion in assets for the quarter ended June 30, down 1.1% from March 31.
In a news release issued Friday, Mr. DiNapoli said the pension fund's “positive performance” in equity markets “was offset by a weak return in our fixed-income holdings” during the March-June period. Mr. Sumberg declined to provide details on the fund's performance.
The news release said the pension fund's asset value can fluctuate during the fiscal year “depending on net inflows, which peak in December and February when employers make contributions on behalf of their employees, balanced with the net outflows to pay benefits, administrative (fees) and investment fees.”
