The Rhode Island Pension Fund continued its recent strong performance in the month of April earning $79 million from investment gains Rhode Island General Treasurer Seth Magaziner today told members of the State Investment Commission.
"We are implementing our "Back-to-Basics" investment strategy which is designed to provide more growth and greater stability through more traditional investments," said Treasurer Magaziner. "Since we adopted "Back-to-Basics" we have seen consistent gains and are ahead of schedule in the move away from hedge funds."
"Staying focused on long-term growth and stability will help us restore the health of our pension system and ensure that we never have to go through another painful pension reform like the one in 2011," continued Treasurer Magaziner.
With just two months remaining in the fiscal year, the fund has returned 9.8 percent in the ten months since July 1, 2016, beating its own benchmark of 9.5 percent and a 60% stock/40% bond portfolio which would have earned 8.8 percent.
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Detailed information about the fund's investment strategy, performance and managers can be found online at: investments.treasury.ri.gov
All performance reported is net of fees.
Contact: Evan England, Director of Communications Office of the General Treasurer (401) 439-2199 evan.england@treasury.ri.gov