By Colin Kellaher
The New York State Common Retirement Fund on Wednesday reported a 1.15% return for its fiscal second quarter, boosted by rising financial markets.
The third-largest public pension fund in the U.S. reported an estimated value of $267.8 billion as of Sept. 30, down from $268.3 billion as of June 30. The lower overall value reflects the payout of $3.57 billion in benefits to retirees and beneficiaries during the quarter.
“Market volatility brought returns down from their heights earlier in the year, but the fund remains on a pace to generate solid returns overall,” New York State Comptroller Thomas DiNapoli said.
The fund said it had roughly 52.1% of its assets invested in publicly traded equities and nearly 22% of its portfolio invested in cash, bonds and mortgages as of Sept. 30.
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