The New York State Common Retirement Fund, one of the largest public pension funds in the U.S., announced a remarkable 6.18% investment return for its fiscal third quarter, ending on December 31, 2023.
With its end-of-year value reaching $259.9 billion, the fund demonstrated impressive growth from $246.3 billion at the end of September and $248.5 billion at the close of their last fiscal year on March 31, 2023.
While acknowledging an overall improvement in the markets, New York State Comptroller Thomas DiNapoli noted that there is still some volatility and uncertainty moving forward into the next year.
In addition to market gains, the fund’s balance at December 31 includes retirement and death benefits of $4.2 billion paid out during the quarter.
The fund maintained a strategic allocation, with approximately 42% of its assets invested in publicly traded equities and nearly 23% invested in cash, bonds, and mortgages as of the end of December.
It is worth noting that the fund reported a negative 4.14% investment return for the fiscal year ending on March 31, 2023. However, this recent quarter’s performance proves the fund’s resilience and prospects for renewed growth.
