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State pension fund hits record high

By THOMAS ADAMS - 5/13/2013 3:38:35 PM

The state pension fund was valued at a record high of $160.4 billion for the 2013 fiscal year, the Office of the State Comptroller reported Monday.

The portfolio in the New York State Common Retirement Fund produced an estimated rate of return of 10.4 percent for the year ending March 31, officials said.

Domestic equities, which comprise 36 percent of fund investments, returned 14.5 percent, officials said. The global equities asset class, 2.9 percent of the portfolio, returned 13.9 percent. Private equity, at 8.6 percent, returned 11.8 percent.

Fixed income, the fund’s second-largest asset class at 28.2 percent, returned 4.9 percent. Non-U.S. equities, at 14.1 percent, returned 9.5 percent.

The Common Retirement Fund is the third-largest public pension fund in the country. It funds the New York State and Local Retirement System, which provides benefits to more than 1 million state and local government employees, retirees and beneficiaries in New York.

The fund “is well-positioned for growth as the financial markets continue to gain strength,” Comptroller Thomas DiNapoli said in a statement. “Fiscal year 2014-15 will be the final year that employer contribution rates will reflect the market loss of 2008-09.”

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