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12-Month Investment Gain Tops $1 Billion as Rhode Island Pension Fund Earns $128M in February

PROVIDENCE, R.I. Rhode Island's pension fund earned $128 million in investment gains in February 2017 bringing its 12-month investment earnings over the $1 billion mark, General Treasurer Seth Magaziner announced at today's meeting of the State Investment Commission.

"Delivering long-term growth from our investments is critical to ensuring the health and stability of our state pension system," said Treasurer Magaziner. "Under our 'Back to Basics' investment strategy, most of our fund is in traditional investments for growth, meaning that Rhode Islanders have been able to benefit from our continued economic recovery."

Returning 1.7% in the month of February, the fund's market value grew to $7.9 billion. Over the past 12 months, the fund has earned a 14.4% return, outperforming the plan's own 13.9% benchmark, as well as a traditional 60% stock/40% bond portfolio which would have returned 13.5%.

In 2016, the State Investment Commission approved Treasurer Magaziner's 'Back to Basics' investment strategy, which is designed to strengthen performance and reduce risk for the plan. Included in 'Back to Basics' is the move to exit most of the state's investments in hedge funds in favor of more traditional strategies for growth and stability.

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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 (401) 222-2240 | (401) 439-2199 (mobile) evan.england@treasury.ri.gov

Related links

  • Department or agency: Office of General Treasurer Seth Magaziner
  • Online: http://treasury.ri.gov
  • Release date: 03-22-2017

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