New York State Common Retirement Fund, Albany, recorded an estimated net return of 3.1% for the three months ended June 30, the first quarter of the current fiscal year, said Thomas P. DiNapoli, the state comptroller and sole trustee of the pension fund, on Thursday.
The pension fund's estimated assets totaled $254.1 billion for the quarter, up 3.2% from the year-earlier period. The pension fund posted a -8.2% net return for the three months ended June 30, 2022.
"The rebound of the financial markets in recent months helped the fund post positive results for the quarter," Mr. DiNapoli said in a news release. "Recent economic indicators have shown a resilient U.S. economy, but the fund's diversified portfolio is well-positioned to handle any market fluctuations."
As of March 31, the end of the previous fiscal year, the pension fund's asset allocation was 44.1% public equity; 21.5% cash, bonds and mortgages; 14.6% private equity; 13.4% real estate and real assets; and 6.4% credit, absolute-return strategies and opportunistic alternatives.
The pension fund's assumed rate of return is 5.9%.