PROVIDENCE, R.I. -- The Rhode Island pension fund returned 16.7% in 2019, earning $1.3 billion from investments, allowing it to end the year with an all-time high value of $8.78 billion.
The 16.7% return significantly outperformed the fund's benchmark of which earned 15.0%. The performance was led by investments in global public equities, primarily in low-fee index funds designed to provide long-term growth.
The fund has earned $2.3 billion since Treasurer Magaziner implemented the "Back to Basics" investment strategy -which is designed to provide long-term growth and stability- in September 2016.
Detailed information about the fund, including the 'Back to Basics' investment strategy, performance, and detailed information about its managers are published online as part of Treasurer Magaziner's "Transparent Treasury" initiative at: investments.treasury.ri.gov