Embargoed NYS CRF Results 2012 by CelesteKatz


                        From the Office of New York State Comptroller
                        Thomas P. DiNapoli
CONTACT:          Eric Sumberg                                    FOR RELEASE:            Embargoed until
                  (518) 474-4015                                                          1:30 p.m., May 23, 2012

                       Valued at $150.3 Billion, Diversification Helped
                            Fund Weather Market Fluctuations

Despite a volatile year in the financial markets, the New York State Common Retirement Fund
(Fund) earned an estimated 5.96 percent rate of return for the state’s 2011-2012 fiscal year, New
York State Comptroller Thomas P. DiNapoli announced today. The estimated value of the Fund is
$150.3 billion, the highest since the global economic meltdown in state fiscal year 2008-2009.

“The financial markets took investors on an up and down ride last year, but the New York State
Common Retirement Fund’s diversified investment portfolio coupled with a long term view have
helped us weather these large swings,” DiNapoli said. “Over the last three years, the Fund has
experienced strong gains during a period of economic instability. We remain one of strongest
pension funds in the country, providing retirement security to more than one million New Yorkers.”

Returns for the Fund’s asset classes were:

       Domestic Equities returned 6.9 percent (at 38 percent of the Fund’s total investments)
       Fixed Income returned 9.0 percent (at 27.5 percent of the Fund)
       Non-US Equities returned -6.4 percent (at 13.6 percent of the Fund)
       Private Equity returned 8.3 percent (at 9.6 percent of the Fund)
       Real Estate returned 17.6 percent (at 6.1 percent of the Fund)
       Global Equities returned -0.5 percent (at 2.9 percent of the Fund)
       Absolute Return Strategies returned -2.4 percent (at 2 percent of the Fund)
       Opportunistic Alternatives returned 1.2 percent (at 0.3 percent of the Fund)

The Fund, the third-largest public pension fund in the nation, remains among the highest funded
plans in the country according to the Pew Center on the States. In September 2010, the Fund
lowered its assumed long-term investment rate of return from 8 to 7.5 percent.

The New York State and Local Retirement System provides benefits to state and local government
employees, retirees and beneficiaries. Over the last 20 years, 82 percent of the costs of benefits have
been funded from investment returns.

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                              Web sites: www.osc.state.ny.us or www.openbooknewyork.com
                                              E-Mail: press@osc.state.ny.us
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