The New York State Common Retirement Fund’s (Fund) overall return in the first quarter of the state fiscal year 2016-2017 was 2 percent for the three-month period ending June 30, 2016, with an estimated value of $181 billion, according to New York State Comptroller Thomas P. DiNapoli.

“We’ve been able to make some slight gains despite markets that remain challenging,” DiNapoli said. “Fortunately, we’re long-term investors and remain well-funded as we navigate ongoing market fluctuations.”

The Fund's estimated value reflects benefits paid out during the quarter. The Fund’s audited value as of the March 31, 2016 end of the state fiscal year was revised upward to $178.6 billion from an initial estimate of $178.1 billion.

As of June 30, 2016, the Fund has 38.3 percent of its assets invested in publicly traded domestic equities and 15.6 percent in international public equities. The remaining Fund assets by allocation are invested in cash, bonds and mortgages (26.7 percent), private equity (7.8 percent), real estate (7 percent), absolute return strategies (3.3 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.” The report warned, however, that constraints on the Fund’s staffing and compensation could have current and future consequences. DiNapoli and his investment staff are taking steps to address and expand the Fund’s resources.

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.