New York State Common Retirement Fund, Albany, recorded an estimated net return of 11.55% on assets on assets of $267.7 billion for the fiscal year ended March 31, Thomas P. DiNapoli, the state comptroller and sole trustee of the pension fund, reported June 18.
“Strong performances across asset classes helped drive the state pension fund’s investment returns higher over the past year, with many companies reporting better than expected earnings and consumer spending remaining strong,” DiNapoli said in a news release describing the financial results. The pension fund’s assumed rate of return is 5.9%.
For the previous fiscal year, the pension fund’s net return was -4.14% on assets of $248.5 billion.
As of March 31, publicly traded equities accounted for 42.85% of pension fund assets. Other allocations were cash, bonds and mortgages (22.26%); private equity (14.60%); real estate and real assets (12.77%); and credit, absolute return strategies and opportunistic alternatives (7.52%).
The best-performing asset categories were domestic equities (28.98% estimated net return) and global equities (24.29%). The worst performers were real estate (-9.72%) and fixed income (2.65%).
