FAS Report on the New York State Common Retirement Fund released by the New York State Comptroller
On July 14, 2016, New York State Comptroller Thomas DiNapoli released the "Fiduciary and Conflict of Interest Review of the New York State Common Retirement Fund" report prepared by Funston Advisory Services. The New York State Common Retirement Fund is the third largest public pension fund in the United States with estimated assets of $178.1 billion as of March 31, 2016. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries. The press release can be viewed at http://www.osc.state.ny.us/press/releases/july16/071416b.htm.
The full FAS report is available on the Comptroller's website at
http://www.osc.state.ny.us/reports/pension/NYSCRF_Fiduciary_and_Conflict_of_Interest_Review_2016.pdf
Media reporting which referenced our report included:
ABC News: "Outside Review Says NY Pension Fund Responsible, Needs Staff"
http://abcnews.go.com/US/wireStory/review-ny-pension-fund-responsible-staff-40584216
Pensions & Investments: "Review of New York pension fund holds words of caution"
http://www.pionline.com/article/20160714/ONLINE/160719928/review-of-new-york-pension-fund-holds-words-of-caution
Time Warner Cable News: "DiNapoli Touts Independent Pension Review"
http://www.nystateofpolitics.com/2016/07/dinapoli-touts-independent-pension-review/
Global Investor: "Unbundling custody, FX and sec lending on the rise at US funds"
http://www.globalinvestormagazine.com/Article/3571711/Unbundling-custody-FX-and-sec-lending-on-the-rise-at-US-funds.html
Securities Lending Times: "Securities lending deserves own contract, says Funston"
http://www.securitieslendingtimes.com/securitieslendingnews/article.php?article_id=220719#.V5I3k7grI2y
