The New York State Common Retirement Fund achieved a 5.82% return in its 2024-25 fiscal year, which ended March 31, New York State Comptroller Thomas P. DiNapoli announced Friday.
The pension fund, the third largest in the U.S., slightly missed its long-term expected rate of return of 5.9%, but still posted five- and 10-year annualized returns of 10.6% and 7.74%, respectively. The fund’s assets grew to $272.8 billion, as of March 31, an increase from $267.4 billion the previous year.
In a statement, DiNapoli warned of continuing market volatility affecting returns this year.
“Market volatility has been pronounced in the first half of 2025, with unpredictable actions out of Washington and other economic and geopolitical issues causing uncertainty for investors that is likely to continue in the short term,” DiNapoli said.
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As of March 31, New York Common allocated 39.2% of its assets to equities; 23% to cash, bonds and mortgages; 14.9% to private equity; 14.1% to real estate and real assets; and 8.8% to credit, absolute return strategies and opportunistic alternatives.
The New York State Common Retirement Fund manages retirement benefits for more than 1 million beneficiaries, who are state and local government employees and retirees.
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Tags: New York State Common Retirement Fund, NYSCRF, pension fund
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