New York State Retirement Fund Posts 11.55% Annual Investment Return

By Colin Kellaher

The New York State Common Retirement Fund, one of the largest public pension funds in the U.S., generated an 11.55% investment return for its latest fiscal year, which ended March 31.

The fund ended the fiscal year with a value of $267.7 billion as of the end of March, up from $248.5 billion at the end of the previous fiscal year, during which the fund reported a negative 4.14% investment return.

New York State Comptroller Thomas DiNapoli said the fund's annual increase in value reflects strong performances across asset classes, along with retirement and death benefits of $16.07 billion paid out during the year.

DiNapoli said that while inflation persists and global tensions pose risks to investors, the fund is "well positioned to weather any storms."

The fund, which has a long-term expected rate of return of 5.9%, said it had nearly 43% of its assets invested in publicly traded equities and roughly 22% of its portfolio invested in cash, bonds and mortgages as of March 31.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

06-18-24 1013ET