New York State Common Retirement Fund, Albany, returned an estimated net -0.14% for the three months ended Dec. 31, the third quarter of the pension’s fund’s fiscal year. Estimated assets were $273.4 billion.
For the year-earlier quarter, the estimated net return was 6.2% on estimated assets of $259.9 billion.
The pension fund’s long-term expected rate of return is 5.9%.
“Although 2024 was generally positive, markets fell in December,” said Thomas P. DiNapoli, the state comptroller and sole trustee of the pension fund, in a Feb. 14 news release describing the results.
“Investors will face continued uncertainty in the months ahead, with the potential for tariffs and geopolitical issues raising concerns even as the U.S. economy continues to show strength,” he said. “Fortunately, our diverse and well-managed portfolio is built to withstand market fluctuations and remains one of the reasons we are among the nation’s strongest and best-funded public pension funds.”
As of Dec. 31, the pension fund's actual allocation was 40.9% publicly traded equities; 22.2% cash, bonds and mortgages; 14.6% private equity; 13.9% real estate and real assets; and 8.4% credit, absolute-return strategies and opportunistic alternatives.
