State Pension Investments Up
ALBANY (AP) The New York pension fund for state and local government workers reports an investment return of nearly 3 percent for the quarter that ended Dec. 31 with an estimated value of $178.3 billion.
That follows the previous quarter when the fund lost 4 percent, which Comptroller Thomas DiNapoli attributed to late summer volatility in financial markets.
DiNapoli, sole trustee of the fund, says there was some recovery while markets remain challenging across all asset classes.
As of Dec. 31, it had about 37 of its investments in domestic stocks, 15.3 percent in international stocks, and 21 percent in bonds and mortgages. The rest was divided among cash, Treasury Inflation Protected Securities, private equity, real estate and other investments.
The fund holds assets for more than a million government employees, retirees and beneficiaries.