New York State Common Retirement Fund, Albany, posted a 10.4% return on investments for the first fiscal quarter ended June 30, bringing its value to $216.3 billion.
In July, the fund posted a -2.68% return on investments for the fiscal year ended March 31.
"One of the strongest rebounds in modern history lifted the fund's value well above what it was at the close of the state fiscal year and restored most of the losses caused by the COVID-19 pandemic," Thomas DiNapoli, the state comptroller and sole trustee of the pension fund, said in a news release issued Tuesday.
"Until there is a solution to the global public health crisis, market volatility and uncertainty will continue," Mr. DiNapoli said. "We manage New York state's pension fund to withstand tough challenges."
As of June 30, the fund had 53% of its assets in publicly traded domestic, non-U.S. and global equities. Other allocations were to cash, bonds and mortgages (23.2%); private equity (9.6%); real estate and real assets (8.7%); and absolute return strategies and opportunistic alternatives (5.5%).