Starting in 2003 NYCERS started reporting investments in real estate limited partnerships. The table below shows the reported values for those investments. You can see that the bulk of the investments occurred in FY-2007, the height of the mortgage market. Great timing!
It would be helpful, if NYCERS displayed on its web site the details of the investment history of the fund. Of course, that would probably raise too many questions about the investment decisions by the trustees.
I have always been fascinated by the Comptroller’s decision in 2005 to stop posting the quarterly returns of the five city pension funds. The last posting was March 30, 2005, the month I was forced to leave NYCERS.
On a closing note, it would be nice not to have to pay a lot to lose money.
| Year | Value(in millions) | Expenses(in millions) |
|---|---|---|
| 2003 | $4.14 | $.062 |
| 2004 | $43.24 | $2.555 |
| 2005 | $82.14 | $1.664 |
| 2006 | $161.44 | $4.900 |
| 2007 | $902.09 | $8.865 |
| 2008 | $1,176.29 | $15.180 |
| 2009 | $885.68 | $13.636 |
| 2010 | $775.85 | $15.973 |
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