New York’s $207 billion pension fund should be worth $344 billion, Republican comptroller candidate Jonathan Trichter argued in a white paper released on Monday by his campaign. 
Trichter in a conference call with reporters argued Comptroller Tom DiNapoli’s office has poorly managed the state’s pension fund over the last 11 years and has failed to meet targets
The report argues these investment targets were missed due to the 5.36 percent net of fees and the 5.59 percent gross of fees compared with the 7.6 percent that was anticipated. Taken over a 10-year period, this amounts to $137 billion in missed value.
At the same time, Trichter’s report points to a failure to meet market benchmarks for returns over the last decade, including under performing investments in private equity and the investments made in hedge funds. 
“DiNapoli has used all the measures in his tool box to obfuscate how the fund is doing,” Trichter said, adding the incumbent comptroller has sosught to “paper over a number of key indicators of how the pension fund is doing.” 
DiNapoli’s campaign knocked the report and its methodology. 
“It’s not surprising that a guy who just joined the party of Donald Trump is now trafficking in fake news to get attention,” said Doug Forand, a campaign spokesman for DiNapoli. “His numbers simply do not add up.”
Trichter is a former Democrat who is running against DiNapoli as he seeks a third full term. DiNapoli was first appointed to the post in 2007 following the resignation of Alan Hevesi. 
The numbers released by Trichter in the report do not assume monthly benefit payments to retirees and family members and ignores significant economic events of the last decade, such as the recession and its subsequent impact on investments, DiNapoli’s campaign argued. 
The pension fund’s investment performance itself is reviewed by actuaries and outside advisory groups as well as independent accounting organizations. 
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