June 8, 2011
By Stephanie West
According to New York City Comptroller John C. Liu the New York City Pension Funds recorded investment returns of more than 20 percent in Fiscal Year 2011, which ended June 30. This is the first time in 13 years the Funds have achieved this mark. The preliminary data indicates the Funds values at approximately $119 billion as of June 30, 2011, which exceeds the $115 billion pre 2008 crash peak, and the June 30, 2010 value of $97.8 billion.
The estimated returns for FY 2011, the first full fiscal year under Comptroller Liu who took office on Jan. 1, 2010, follow gains of 14 percent in FY 2010, and reflect stock and bond market recoveries, as well as new actions taken by the Comptroller’s Office and the Trustees of the Pension Boards.
“While the markets remain volatile, we have vigorously pursued a diversification strategy to enhance our returns while lowering pension costs to the City. This will protect pensioners and taxpayers alike in the long run,” said Comptroller Liu. “It has been gratifying to work closely with our dedicated Trustees to achieve these results.”