Investments

NYSTRS invests the System's funds in several diverse classes of assets, including equities, bonds and real estate. This diversification helps us earn the highest possible long-term rate of return within appropriate risk levels. In turn, this enables us to pay guaranteed benefits to members and their beneficiaries at the lowest possible cost to participating employers and the taxpayers that fund them.

Generally, our liabilities will not be paid for as many as 30-40 years. Therefore, as a long-term investor, our holdings can withstand some short-term volatility. The System's long-term investment objective is to achieve an annualized rate of return of 8.0%.

Market volatility led to a total fund rate of return of -20.5% during the fiscal year ending June 30, 2009. Though disappointing, the percentage decline was less than that of most major market indices, such as the S&P 500, which returned -26.2% for the fiscal year. A post-year end market rebound and several years of double digit positive returns earlier in the decade have cushioned the effects of 2009 returns. NYSTRS' Retirement Board regularly reviews asset allocations and adjusts them as necessary.

The System's most-recent list of investments is below. We update this list approximately two weeks after the end of each quarter.

• Equity Holdings  
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  Excel file  

• Fixed Income Holdings 
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  Excel file  

• ADR Holdings 
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  Excel file  

Read our Annual Report for more financial and investment information. Refer to our Investment Policy Manual for more information about our investment regulations and policies.

NYSTRS incorporates applicable principles of the New York State Attorney General's Public Pension Fund Reform Code of Conduct by banning introductions by placement agents and requiring enhanced disclosure from investment funds and managers. Read the press release for more details.