The New York State Common Retirement Fund, Albany, recorded an estimated net return of 4.2% for the three months ended Sept. 30, Thomas P. DiNapoli, the state comptroller and sole trustee of the pension fund, announced Nov. 20.
The annual assumed rate of return is 5.9%.
The estimated net return for the year-ago period was -1.6%.
“While investors continue to face uncertainty, steady economic growth has continued this year, bolstering markets in the second quarter,” DiNapoli said in a news release commenting on the pension fund’s second quarter results.
“Our diverse portfolio is built on long-term sustainable investments that can weather the market’s ups and downs,” he added.
The pension fund reported estimated assets of $274.6 billion for the second quarter compared with $246.3 billion for the year-ago period.
The fund’s broad-category asset allocation as of Sept. 30 was publicly traded equities (42%); cash, bonds and mortgages (22.2%); private equity (14.5%); real estate and real assets (13.3%); and credit, absolute return strategies and opportunistic alternatives (8%).
