In Turnaround, New York State Pension Plan Returns 3.08% in Fiscal Q1

The fund’s asset value rose to $254.1 billion, a big improvement from the prior-year period.

The New York State Common Retirement Fund reported a 3.08% return for the first quarter of the 2023-24 fiscal year that ended June 30, raising its asset value to $254.1 billion from $248.5 billion at the end of the previous quarter and $246.3 billion at the same time last year.

The performance was a sharp turnaround from last year’s first-quarter results, when the pension fund lost 8.24%.

“The rebound of the financial markets in recent months helped the fund post positive results for the quarter,” New York State Comptroller Thomas DiNapoli said in a release. “Recent economic indicators have shown a resilient U.S. economy, but the fund’s diversified portfolio is well-positioned to handle any market fluctuations.”

The pension fund paid out $4.09 billion in retirement and death benefits during the quarter.

As of March 31, the NYSCRF’s asset allocation was 44.14% publicly traded equities, 21.53% cash, bonds and mortgages, 14.61% private equity, 13.39% real estate and real assets and 6.33% credit, absolute return strategies and opportunistic alternatives.

One year earlier, the fund had 44.7% of its assets invested in publicly traded equities, 22.4% in cash, bonds and mortgages, 15% in private equity, 12.1% in real estate and real assets and 5.8% in credit, absolute return strategies and opportunistic alternatives.

The New York state comptroller’s office did not provide asset performance for the quarter.

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