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Rhode Island pension fund outperforms benchmark in January

The Rhode Island pension fund earned $5.3 million from investments in January, outperforming its investment benchmark for the month.

Under Treasurer Magaziner's leadership, the State adopted the 'Back to Basics' investment strategy, which is designed to provide long-term growth over time and stability when markets are challenging.

In January, the pension fund earned a 0.04 percent return, outperforming the plan's benchmark return of -0.21 percent. For the twelve-month period ending January 31, the pension fund returned 12.1 percent, significantly outperforming the 10.3 percent benchmark return.

Over the past three years, the fund posted an average annual return of 8.6 percent, outperforming its benchmark return of 8.0 percent for the same period. Over the five-year period, the fund also outperformed its benchmark, earning an average annual return of 6.9 percent, as compared to the 6.5 percent return for the benchmark.

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.

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Note: All performance is reported on a "net of fees" basis.

Related links

  • Department or agency: Office of General Treasurer Seth Magaziner
  • Online: http://treasury.ri.gov
  • Release date: 02-26-2020

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