New York State Common Retirement Fund Posts Negative Investment Return

The New York State Common Retirement Fund, one of the largest public pension funds in the U.S., reported a negative 1.59% investment return for its fiscal second quarter that ended on September 30th.

The fund's value stood at $246.3 billion at the end of September, a decrease from $254.1 billion in June but an increase from $248.5 billion in March, marking the end of its last fiscal year.

According to New York State Comptroller Thomas DiNapoli, the market's bounce back during the first quarter of the state fiscal year was followed by declines in the second quarter. He emphasized that the fund's well-diversified portfolio ensures its strength for future generations.

Apart from market declines, the fund stated that its balance at the end of September reflects volatile retirement and death benefits of $4.09 billion paid out during the quarter.

For the fiscal year that concluded on March 31st, the fund reported a negative 4.14% investment return, significantly below its long-term expected rate of return of 5.9%.