Press Releases
CONTACT:
Press Office
(518) 474-4015

 FOR RELEASE:

Immediately
August 17, 2012

 

NYS Common Retirement Fund Announces First Quarter Results

The New York State Common Retirement Fund's (Fund) overall rate of return for the first quarter ending June 30, 2012, was -0.92 percent, according to New York State Comptroller Thomas P. DiNapoli. The Fund's estimated value at the end of the first quarter of its fiscal year was $146.5 billion.

"Like many investors, the New York State Common Retirement Fund has been weathering uncertainty in the financial markets since the end of our fiscal year in March," DiNapoli said. "It continues to be among the strongest in the nation and our diversified investment strategy and long-term perspective to help manage these market conditions has resulted in positive returns the last three years."

In 2009, DiNapoli initiated quarterly performance reporting by the Fund, which had previously disclosed its results only on an annual basis. This practice is part of DiNapoli's efforts to increase transparency and accountability regarding Fund management and performance.

The Fund, the third-largest public pension fund in the nation, remains among the highest funded plans in the country according to the Pew Center on the States. Over the last 20 years, 82 percent of the costs of benefits have been funded from investment returns.


###

 

Albany Phone: (518) 474-4015 Fax: (518) 473-8940
NYC Phone: (212) 383-1388 Fax: (212) 681-7677
Internet: www.osc.state.ny.us
E-Mail: press@osc.state.ny.us
Follow us on Twitter: @NYSComptroller
Like us on Facebook: www.facebook.com/nyscomptroller