By Colin Kellaher

The New York State Common Retirement Fund, one of the largest public pension funds in the U.S., generated a 5.84% investment return for its fiscal year ended March 31, just shy of the long-term expected rate of return of 5.9%.

The fund ended the fiscal year with a value of $272.8 billion as of the end of March, up from $267.4 billion at the end of the previous fiscal year, during which the fund reported a return of 11.56%.

New York State Comptroller Thomas DiNapoli said the fund's value reflects retirement and death benefits of $16.7 billion paid out during the year.

DiNapoli said that while market volatility has been pronounced in the first half of 2025 and uncertainty for investors is likely to continue in the short term, the fund "has weathered previous market ups and downs and remains well-positioned to provide the retirement benefits state and local government employees have earned."

The fund said it had about 39% of its assets invested in publicly traded equities and roughly 23% of its portfolio invested in cash, bonds and mortgages as of March 31.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 06, 2025 10:16 ET (14:16 GMT)

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