NYSCRF reports 3.5% return in recent quarter
The $197.8 billion New York State Common Retirement Fund has reported a solid quarter for the three months ending Sept. 30, according to New York State comptroller Thomas DiNapoli.
Overall returns were at 3.51 percent in the second quarter of state fiscal year 2016-2017. Over the long term, in order to meet current and future retirement benefits, the pension fund hopes to reach 7 percent for its assumed rate of return.
“Investments across several asset classes had positive returns during a solid quarter,” said DiNapoli.
The fund’s estimated value reflects benefits paid out during the quarter, as well as large investments committed during 2016, which include more than $1 billion in real estate commitments and a