After posting an 11.62% return in the fiscal year ending on June 30, 2017, the Rhode Island Pension Fund has continued to deliver under Treasurer Magaziner and his Back to Basics investment strategy earning 1.70% in the month of July which brings its total value to $8.15 billion.
"We are committed to strengthening the retirement system and providing retirement security for its members," said Treasurer Magaziner. "The Back to Basics investment strategy continues to provide growth when markets are strong, and is also positioning us to be more stable when markets are down."
The $137 million earned in July marks the ninth consecutive month of gains for the fund, which continues to outperform its own internal benchmark and a traditional 60% stock/40% bonds portfolio over the past one-year, three-year and five-year time periods.
Treasurer Magaziner announced a new "Back to Basics" investment strategy in September 2016, which is expected to provide more long-term growth and market stability for the pension fund through traditional investment techniques and a reduction in hedge-funds.
# # #
Contact: Evan England, Director of Communications (401) 222-2240 | (401) 439-2199 (mobile) email@example.com