The New York State Common Retirement Fund’s overall rate of return for the first quarter flew into negative territory, recorded at -0.92, Comptroller Tom DiNapoli announced today.

The fund’s estimated value is $146.5 billion, which as Joe Spector at Politics on the Hudson noted, is down from the $150.3 billion estimated value at the end of the fiscal year, March 30.

DiNapoli said in the statement that the pension fund continues to weather the “uncertainty” in the world financial markets, but remains strong.

“Like many investors, the New York State Common Retirement Fund has been weathering uncertainty in the financial markets since the end of our fiscal year in March,” DiNapoli said. “It continues to be among the strongest in the nation and our diversified investment strategy and long-term perspective to help manage these market conditions has resulted in positive returns the last three years.”

The pension fund covers about 1 million state and local employees and is the third-largest public pension fund in the country.

 

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