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New York State Pension Posted 4.83% Gain in Last Quarter

Feb. 15 (Bloomberg) -- New York state’s retirement fund, the third-largest U.S. public pension, earned 4.83 percent on its investments in the quarter ending Dec. 31, Comptroller Thomas DiNapoli said.

The $140.3 billion fund has lost 1.26 percent on its investments since the fiscal year began April 1, Eric Sumberg, a DiNapoli spokesman, said in an e-mail today. The quarterly gain fell short of the 11.2 percent increase in the Standard & Poor’s 500 index in the same period, according to data compiled by Bloomberg. It followed a 7.48 percent loss in the previous three months.

“The rally in the equities markets has helped the fund maintain its strong position,” DiNapoli, the fund’s sole trustee, said in a statement. “However, instability resulting from the European sovereign-debt crisis and the slow pace of economic recovery remain areas of concern.”

The New York pension had 101.5 percent of the money needed to pay its obligations in 2010, better than any other state, according to an annual study by Bloomberg Rankings.

For calendar year 2011, the fund gained 3.18 percent, Sumberg said. The California Public Employees’ Retirement System, the largest U.S. pension, earned 1.1 percent in 2011. The S&P 500 index returned 2.1 percent last year.

New York’s pension fund earned 14.6 percent on its investments in fiscal 2011, ending the year at $146.5 billion, the highest since the economic downturn in fiscal 2009, DiNapoli said in a July statement.

To contact the reporter on this story: Freeman Klopott in Albany at fklopott@bloomberg.net

To contact the editor responsible for this story: Mark Tannenbaum at mtannen@bloomberg.net

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