STATE OF RHODE ISLAND: Pension Fund earns $106 million in February


State of Rhode Island issued the following announcement on March 29.

Rhode Island's pension fund earned $106 million from investments in the month of January, posting a 1.31 percent return. The positive performance was driven by the investments in the global stock market - mostly low fee index funds designed to provide long-term growth.

"Rhode Islanders who devote their careers to public service deserve the dignity of a secure retirement," said General Treasurer Seth Magaziner. "As long-term investors, our goal is to provide long-term growth and stability that will offer our members the financial support they need when they retire."

In the 3-year period ending February 28, 2019 the fund also outperformed benchmarks earning an annualized return of 9.21 percent versus the plan benchmark return of 8.98 percent and a traditional 60 percent stock/40 percent bonds portfolio which would have earned 8.42 percent.

Detailed information about the fund, including the Back to Basics investment strategy, performance, and detailed information about its managers are published online as part of Treasurer Magaziner's "Transparent Treasury" initiative at investments.treasury.ri.gov.

Original source can be found here.

Want to get notified whenever we write about State of Rhode Island ?

Sign-up Next time we write about State of Rhode Island, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

State of Rhode Island

More News

Metro Business Network