New York State Common Retirement Fund, Albany, returned an estimated 1.4% for the fiscal first quarter ended June 30, State Comptroller Thomas P. DiNapoli said in a news release Aug. 23.
Estimated assets as of the end of June totaled $267.7 billion, the news release said.
The pension fund also had an estimated value of $267.7 billion as of March 31. The June 30 asset value reflects retirement and death benefits of $4.2 billion paid out during the first quarter.
As of June 30, the pension fund's actual allocation was 42.3% public equities; 22.1% cash, bonds and mortgages; 14.7% private equity; 13.1% real estate and real assets; and 7.8% credit, absolute-return strategies and opportunistic alternatives.
Neither benchmarks nor asset class returns were provided.
The pension fund’s long-term expected rate of return is 5.9%.
In the year-earlier quarter, the pension fund returned a net 3.1% and assets totaled $254.1 billion as of June 30, 2023.
“Stock market volatility underlines the continued economic uncertainties faced by investors,” said DiNapoli, the sole trustee of the pension fund, in the release. “Fortunately, our diverse portfolio is built on long-term sustainable investments that can weather such ups and downs.”
