N.Y. pension fund reports a 4% return
ALBANY -- The New York pension fund for state and local government workers reported a 4 percent return on investment for its last quarter with an estimated fund value of $150.1 billion at the end of September, up more than $3 billion.
State Comptroller Thomas DiNapoli, fund trustee, calls the returns "reasonable gains" amid a slow economy and market uncertainty about the U.S. elections.
The fund has 37 percent of its assets in domestic stocks, nearly 14 percent in international equities, 31 percent in cash, bonds and mortgages, 9.4 percent in private equity, 6.4 percent in real estate and 2 percent in other investments.
It supports more than 400,000 retirees and beneficiaries and has about 656,000 working members.
Its estimated value was $150.3 billion on March 31 and $146.5 billion on June 30.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
