August 21, 2013
By Stephanie West
Albany NY – The New York State Common Retirement Fund’s (Fund) overall rate of return for the first quarter ending June 30, 2013, was 0.29 percent, according to New York State Comptroller Thomas P. DiNapoli. The Fund’s estimated value at the end of the first quarter of its fiscal year was $158.7 billion.
“The Fund’s positive performance in the markets was offset by a weak return in our fixed income holdings in the first quarter of the fiscal year,” DiNapoli said. “Our investment strategy is geared toward the long-term and we will continue to keep that perspective as we focus on providing strong returns year after year.”
In 2009, DiNapoli initiated quarterly performance reporting by the Fund, which had previously disclosed its results only on an annual basis. This practice is part of DiNapoli’s efforts to increase transparency and accountability regarding Fund management and performance.