DiNapoli: State Pension Fund Valued at $267.7 Billion at End of First Quarter

August 23, 2024

New York State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was $267.7 billion at the end of the first quarter of state fiscal year 2024-25. For the three-month period ending June 30, 2024, Fund investments returned an estimated 1.38%.

"Stock market volatility underlines the continued economic uncertainties faced by investors," DiNapoli said. "Fortunately, our diverse portfolio is built on long-term sustainable investments that can weather such ups and downs and is one of the reasons we are one of the nation's strongest public pension funds."

The Fund's value reflects retirement and death benefits of $4.2 billion paid out during the quarter. Its estimated value was $267.7 billion as of March 31, 2024, the end of the state's fiscal year.

As of June 30, the Fund had 42.32% of its assets invested in publicly traded equities. The remaining Fund assets by allocation are invested in cash, bonds, and mortgages (22.07%), private equity (14.71%), real estate and real assets (13.14%) and credit, absolute return strategies, and opportunistic alternatives (7.76%).

The Fund's long-term expected rate of return is 5.9%.

DiNapoli initiated quarterly performance reporting by the Fund in 2009 as part of his on-going efforts to increase accountability and transparency.