4th quarter is profitable for pensions

ALBANY — The New York pension fund for state and local government workers reported an investment return of nearlyarly 3% for the quarter that ended Dec. 31, with an estimated value of $178.3 billion.

That follows the previous quarter when the fund lost 4%, which Controller Thomas DiNapoli (photo) attributed to late summer volatility ini financialfi ancial markets.

DiNapoli, sole trustee of the f fund, said there was some recove ery while markets remain chall lenging across all asset classes.

As of Dec. 31, it had about 37% of its investments in domestic stocks, 15.3% in international stocks, and 21% in bonds and mortgages.

The rest was divided among cash, Treasury Inflation Protected Securities, private equity, real estate and other investments.

The fund holds assets for more than a million government employees, retirees and beneficiaries.