Rhode Island's pension fund continues to deliver strong investment performance, earning $74.3 million in the month of September 2017, and more than $872 million in the 12 months since Treasurer Magaziner announced his Back to Basics investment strategy.
"I am committed to bringing growth and stability to our State's pension fund," said Treasurer Magaziner. "Our Back to Basics approach is improving investment returns through common sense investments and providing financial security for those who have dedicated their careers to public service."
For the 12-month period ending September 30, 2017, the fund earned over $872 million, a return of 11.6 percent, which beats the plan's 11.1 percent benchmark and a traditional 60% stock/40% bonds portfolio which would have earned 10.9 percent.
Treasurer Magaziner announced the Back to Basics investment strategy in September 2016 and has moved more than $500 million out of hedge funds in favor of more traditional investments for growth and stability.
Detailed information about the fund's investment strategy, performance and managers are published online as part of Treasurer Magaziner's 'Transparent Treasury' initiative at: investments.treasury.ri.gov.
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Contact: Evan England, Director of Communications (401) 222-2240 | (401) 439-2199 (mobile) firstname.lastname@example.org