General Treasurer Seth Magaziner today announced that Rhode Island's pension fund earned 11.62% outperforming the plan's benchmark and growing to $8,041,060,035 in the fiscal year ending on June 30.
"Our 'Back to Basics' investment approach is improving investments returns for the fund," said Treasurer Magaziner. "My office will continue to work on strengthening retirement security for our public employees."
The pension fund earned $851,428,237 in fiscal 2017. Net investment performance was 11.62%, beating both the 11.34% return of the fund's benchmark, as well as the 10.80% return for a traditional 60% stock / 40% bond investment portfolio.
Rhode Island's net investment performance also outperformed its benchmark for the one, three, five and ten year periods ending June 30, 2017.
In September 2016, Treasurer Magaziner announced a "Back to Basics" investment strategy for the Rhode Island pension fund, which includes a significant reduction in the State's investments in hedge funds.
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