New York State Common Retirement Fund, Albany, on Feb. 13 reported an estimated net return of 6.2% for the three months ended Dec. 31, the third quarter of the pension fund's fiscal year. The long-term expected rate of return is 5.9%.
Estimated third-quarter assets reached $259.9 billion. For the corresponding year-earlier period, the estimated return was 4.5% and the estimated assets were $242.3 billion.
"The markets have seen an improvement over the past quarter, but some volatility remains," said Thomas P. DiNapoli, the state comptroller and sole trustee of the pension fund, in a news release announcing the results. "Economic opinions are mixed about the year ahead and uncertainty persists."
Broad asset category allocations for the quarter ended Dec. 31 were 41.8% publicly traded equities; 22.6% cash, bonds, and mortgages; 14.8% private equity; 13.3% real estate and real assets; and 7.5% credit, absolute-return strategies and opportunistic alternatives.
