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Pension Fund earns $231 million last quarter, outperforms benchmarks

The State's investment strategy earned $22.8 million in September, staying ahead of benchmarks and closing the first quarter of the fiscal year with more than $231 million earned from investments.

"Our members deserve a stable and healthy retirement system," said Treasurer Magaziner. "The Back to Basics investment strategy, which we began implementing two years ago, continues to deliver both growth and protection for the pension fund and our members."

Over the past year, the fund returned 7.35 percent, well ahead of the plan's investment benchmark of 6.71 percent and even further ahead of a traditional 60 percent stock/40 percent bonds portfolio would have earned just 5.35 percent during the same period.

The fund has outperformed its own benchmark and a 60/40 portfolio across the 1-year, 3-year and 5-year time horizons. This, and other investment information, is available online at the Treasurer's Transparency portal at: investments.treasury.ri.gov

Treasurer Magaziner's Back to Basics investment strategy was adopted in September 2016. Since Back to Basics was implemented was implemented the fund has earned $1.54 billion from investments. All performance is presented net of fees and expenses.

Related links

  • Department or agency: Office of General Treasurer Seth Magaziner
  • Online: http://treasury.ri.gov
  • Release date: 10-24-2018

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