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State Pension Fund Up 4% For Quarter

Posted By Joseph Spector On November 19, 2012 @ 11:22 am In Other | Comments Disabled

The state’s pension fund grew 4 percent in the second quarter of the fiscal year to a total of $150.1 billion, Comptroller Thomas DiNapoli said.

[1]DiNapoli’s office estimates a yearly return of 7.5 percent on the fund, which has about 1 million retirees and workers. The fund is one of the largest public pension funds in the country; DiNapoli is the sole trustee.

“The New York State Common Retirement Fund produced reasonable gains this quarter amid a slow economy and uncertainty in the market about the elections,” DiNapoli said in a statement.

“As one of the largest institutional investors in the world, we urge the President and Congress to resolve the massive economic decisions they face and avoid a standoff on the fiscal cliff issue that could damage our economy. While the diversification of our assets will help the Fund weather economic storms, a swift compromise in Washington could help 2013 be a more prosperous year for investors like us.”

The fund has 37.1 percent of its assets in publicly traded domestic equities and 13.7 percent in international public equities.

The remaining fund assets are: cash, bonds and mortgages (31.1 percent), private equity (9.4 percent), real estate (6.4 percent), absolute return strategy (2.00 percent) and opportunistic strategy alternatives (0.3 percent).


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