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June 28, 2017
New York State's pension fund loses $7 billion in value, says Controller Thomas DiNapoli!! 11-20-2012
Posted On: Nov 21, 2012

New York State's pension fund loses $7 billion in value, says Controller Thomas DiNapoli

Economy is blamed for 8.9% decline

ALBANY — More bad economic news for New York: The state pension fund lost 8.9% of its value over the past three months.

The fund, one of the largest public pension systems in the nation, is now valued at $133.8 billion, down from $146.9 billion at the end of the first quarter on June 30, state Controller Thomas DiNapoli’s office said Tuesday.

DiNapoli says the rate of return the state has received on its investments dipped 7.48% the past three months.

“Like all investors, the fund has been affected by the sluggish economy and increased volatility in the markets,” DiNapoli said.

Two-thirds of the fund’s assets are invested in publicly traded domestic equities and 15.1% in international equities.

The fund covers more than 1 million retirees from state and local governments, excluding New York City.

Kenneth Lovett




 
 
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