New York City pension fund returns plunge in difficult year
The five pension funds within the $239.5 billion New York City Retirement System each posted negative returns for the fiscal year ended June 30, ranging from -7.17% to -9.77%, according to data posted on the website of Brad Lander, the city comptroller and fiduciary for the five pension funds.
The individual pension fund results are in sharp contrast to the returns for the fiscal year ended June 30, 2021 when all posted net results ranging from 24.8% to 28%.
Mr. Lander reported in a July 29 press release that the preliminary aggregate net return for the total pension system was -8.65% for the just-completed fiscal year.
For the fiscal year ended June 30, 2021, the aggregate net return was 25.8% and aggregate assets were $266.1 billion.
Although the comptroller’s bureau of asset management handles investment for the pension funds, each has an independent board leading to different investment strategies and asset allocations.
Read more @Pionline
309 views
