Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

State Pension Investments Up

Matt Ryan New York Now

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.

The Associated Press is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, it's a not-for-profit news cooperative owned by its American newspaper and broadcast members.
Related Content