NY Pension Fund Reaches Record $180B
New York’s pension fund for state and local government workers reported Friday reaching a record high of $180.7 billion following a 3.6 percent return on investment in the most recent quarter.
That includes “solid performance” in domestic and global stocks, which account for more than 55 percent of the portfolio, said Comptroller Thomas DiNapoli, the fund’s sole trustee. Almost 27 percent is invested in cash, bonds and mortgages, almost 8 percent in private equity, 7 percent in real estate and the balance in other investments.
“The markets have had a long-term positive run,” DiNapoli said. “We hope that will continue. Whether it’ll be as strong as it was last year it’s too soon to tell.”
The Common Retirement Fund for some 644,000 government employees also paid $2.2 billion of benefits to about 422,000 retirees and beneficiaries in the quarter that ended June 30.
This article appeared in print on page 5 of edition of Hamodia.
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