NY pension fund stays above $150 billion
The New York pension fund for state and local government workers is reporting a 4 percent return on investment for its last quarter with an estimated fund value of $150.1 billion, down slightly from the previous quarter. More from WAMC's Dave Lucas.
State Comptroller Thomas DiNapoli, fund trustee, cites "reasonable gains" amid a slow economy and market uncertainty about the U.S. elections.
The fund has 37 percent of assets in domestic stocks, nearly 14 percent in international equities, 31 percent in cash, bonds and mortgages, 9.4 percent in private equity, 6.4 percent in real estate and 2 percent in other investments. It supports more than 400,000 retirees and beneficiaries and has about 656,000 working members.
Its estimated value was $150.3 billion last quarter, with a final audited value of $150.6 billion.
©2012 The Associated Press.