News
Real Estate And Private Equity Keep NY Pensions Above Water
The New York state pension system barely managed to stay positive this year—the $178.1B fund achieved a 0.19% return for the year.
That’s far below the New York State Common Retirement Fund’s goal of 7% annual returns. In fact, they’re the worst returns the fund has experienced since 2009. But it still did better than most other pension funds—US public pension funds with assets over $5B experienced a median decline of 0.25% over the last year, Bloomberg reports.
The fund lost 0.54% in domestic equities and declined 8.54% in foreign equities, and while fixed income was weak, the bright spots were real estate and private equity, which returned a staggering 13.1% and 9.1%, respectively. [Bloomberg]
