New York State reports record returns


The New York State Common Retirement Fund posted a 26% return for its fiscal year ended 31 March, which is the third best performance number over the last 20 years for the system.

New York State Comptroller Thomas DiNapoli said the fund is moving in the right direction and is well positioned to benefit from the US national economic recovery. In a year with pockets of volatility, New York's gains followed a negative year during the financial crisis of 2008 when losses of 26% were reported by the $133 billion state retirement system.

The system's recently rehabilitated absolute return portfolio