The New York State Common Retirement Fund’s (Fund) overall return in the second quarter of state fiscal year 2016-2017 was 3.51 percent for the three-month period ending Sept. 30, 2016, with an estimated value of $184.5 billion, according to New York State Comptroller Thomas P. DiNapoli.

“Investments across several asset classes had positive returns during a solid quarter,” DiNapoli said. “Our long-term perspective and our diversified portfolio continue to cushion the Fund against volatility and help ensure sustainable returns that provide retirement security for our 1.1 million members, retirees and their beneficiaries.”

The Fund's estimated value reflects benefits paid out during the quarter. The Fund ended its first quarter on June 30, 2016 with an overall return of 2 percent and an estimated value of $181 billion. Prior to that the Fund’s audited value was $178.6 billion as of the March 31, 2016 end of the state fiscal year.

As of Sept. 30, 2016, the Fund has 38 percent of its assets invested in publicly traded domestic equities and 16.3 percent in international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (26.7 percent), private equity (7.6 percent), real estate (6.9 percent), absolute return strategies (3.2 percent) and opportunistic alternatives and real assets (1.3 percent).

DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to increase accountability and transparency. A recent independent audit by Funston Advisory Services (FAS) determined the Fund was well-managed with “a very high level of ethical, professional and conflict of interest standards.”

About the New York State Common Retirement Fund

The New York State Common Retirement Fund is the third largest public pension fund in the United States. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries.  The Fund has consistently been ranked as one of the best managed and best funded plans in the nation. The Fund’s fiscal year ends March 31, 2017.