The New York State Common Retirement Fund’s (Fund) overall return in the second quarter of the Fund’s 2015-2016 fiscal year was -4.13 percent for the three-month period ending Sept. 30, 2015, according to New York State Comptroller Thomas P. DiNapoli. The Fund had an estimated value of $173.5 billion at the close of its second quarter.

“Volatility in the late summer continued to seriously challenge investors across multiple markets,” DiNapoli said. “Fortunately, New York’s pension fund is built on a conservative, long-term investment strategy to weather such ups and downs and provide retirement security for generations to come. While we’ve seen some recovery in the third quarter, there is no question that this is a tough year for investors.”

The Fund's estimated value reflects benefits paid out during the quarter.

As of Sept. 30, 2015, the Fund had approximately 37.1 percent of its assets invested in publicly traded domestic equities and 15.1 percent in international public equities. The remaining Fund assets by allocation are invested in cash (3.4 percent), Treasury Inflation Protected Securities (TIPS) (4.9 percent), bonds and mortgages (20.0 percent), private equity (7.9 percent), real estate (6.8 percent), absolute return strategies (3.7 percent) and opportunistic alternatives and real assets (1.1 percent).

DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to increase accountability and transparency.

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. Its fiscal year ends March 31, 2016.