N.Y. State Pension Assets Rise to Record $176.2 Billion

The value of New York state’s pension assets climbed to a record $176.2 billion in fiscal 2014, Comptroller Thomas DiNapoli said.

The New York State Common Retirement Fund, which provides benefits to more than 1 million state and local government workers, retirees and their beneficiaries, returned an estimated 13 percent in the fiscal year that ended March 31, DiNapoli said today in a statement.

“It was a stellar year for us,” DiNapoli, the fund’s sole trustee, said in the statement. “The financial markets have given investors a wild ride the last few years, but our investment strategy has allowed us to capitalize on opportunities and minimize risks.”

Domestic stocks returned 22.3 percent while private equity rose 17.5 percent and real estate almost 19 percent, DiNapoli said. The pension has 37.7 percent of its money invested in U.S. stocks, 7.9 percent in private equity and 6.9 percent in real estate.

The fund, the third-biggest in the U.S., had about 90 percent of the cash needed to meet its obligations as of 2012, which made it the sixth-best-funded state plan, according to data compiled by Bloomberg.